The junk shares of Dhaka Stock Exchange posted corrected prices. 9 out of top 10 loser companies at the bourse were from the Z-category.
The shares of ‘Z’ category companies are considered as junk shares. Mithun Knitting and Shyampur Sugar Mills saw 10 per cent price corrections.
Mithun Kintting’s share price was Tk 22 in the previous session and decreased to Tk 19.8. Shyampur Sugar Mills’s share price declined from Tk 123 to Tk 110.70 on Sunday.
The other eight top loser companies were – Beach Hatchery, Meghna Pet Industries, Alltex Industries, Safko Spinnings Mills, Savar Refractories, Meghna Condensed Milk, Fareast Finance & Investment and Paper Processing & Packaging Limited.
In the recent weeks, a significant number of ‘Z’ category companies witnessed unusual hikes in their share prices at the premier bourse. DSE initiated to find out reasons behind the increase in prices of companies above 40 PE ratios.
Source: Business Post