Business Report :
Shares of loss-making Shyampur Sugar Mills have soared by 38 per cent over just 12 trading days, despite the absence of any publicly disclosed information to justify the surge.
Between 9 March and 25 March, the company’s stock price climbed from Tk100.20 to Tk138.40 on the Dhaka Stock Exchange (DSE), closing at Tk138.40 on Thursday.
In response to this sharp increase, the DSE queried the state-owned company about the unusual price movement. Shyampur Sugar Mills replied that no undisclosed price-sensitive information was behind the rise.
Despite facing severe operational challenges, the company emerged as the top gainer on the DSE’s weekly list. The unexpected spike has left market participants puzzled, given the company’s ongoing struggles.
According to the unaudited financial statement for the October-December quarter of 2024, Shyampur Sugar Mills reported a total loss of Tk5.49 crore, up from Tk5.20 crore in the same period the previous year.
During this quarter, its per-share loss increased to Tk10.97 from Tk10.39 a year earlier. For the July-December period, the company recorded a total loss of Tk11.67 crore, exceeding the Tk10.53 crore loss in the same period the previous year.
Moreover, its per-share loss stood at Tk23.34, while its net asset value per share remained at a negative Tk1,283.25 as of December 2024.
