Shyampur Sugar surprises in the fall market

Shares and unit prices of companies that participated in the country's stock market last week increased and decreased more than the number of companies. Troubled Shyampur Sugar Mills Limited has shown strength in rising prices on the main stock market Dhaka Stock Exchange (DSE) this fall.

The company peaked in interest from a section of investors last week. In this, the main stock market Dhaka Stock Exchange has occupied the top position of price increase. Over the course of the week, the company's share price has collectively increased by more than Rs.12 crore. The company has been in the list of rotten 'Z' group for years despite such a rise in share price.

Over the past week, the company's share price has increased by 26.94 percent. The price of each share has increased by 24 taka 30 paise. In this, the share price of the company increased by 12 crore 15 lakh taka in a week. At the end of the last working day of the week, the price of each share of the company stood at 114 taka 50 paisa. Which was 90 taka 20 paisa at the end of the last working day of the previous week.

There is no information on the DSE website about the last time the company, which has seen such a surge in share price, paid dividends to investors. Even the reserve of the company stands at negative 600 crore rupees. The company is unable to pay any dividends to investors due to year after year of losses. As a result, over the years the company has been ranked in the Z Group.

According to DSE data, the company posted a loss of Rs 43 62 paise per share in 2023. In the previous year in 2022, the loss per share was 53 taka 3 paise. Loss per share in 2021 was 125 taka 14 paisa. Before that, in 2020 there was a loss of Tk 121 38 paise and in 2019 Tk 126 29 paise per share.

The company was listed in the stock market in 1996 with a paid up capital of Tk 5 crore. And the number of shares is 50 lakhs. The government has 51 percent of the shares. Of the remaining shares, general investors hold 47.17 percent and institutional investors hold 1.83 percent.

After Shyampur Sugar Mill, Meghna Insurance was on the price hike list last week. The share price of this company increased by 24.54 percent during the week. Paramount Insurance followed with a 22.10 percent price hike.

In addition, the price of Desh General Insurance, which is in the list of the top 10 companies with price increase last week, has increased by 21.13 percent. Besides, the prices of Sonar Bangla Insurance increased by 21.12 percent, Asia Insurance by 19.17 percent, Global Insurance by 18.98 percent, Western Marine Shipyard by 18.46 percent, Prabhati Insurance by 18.15 percent and Jil Bangla Sugar Mill by 17.58 percent.

MAS/KSR/JIM