Miracle Industries shares soar on announcement of resuming production

Business Desk :
Shares of plastic packaging manufacturer Miracle Industries Limited soared by 9.87% in the first-hour trading session at the Dhaka bourse on Monday as the company announced to resume its production on 30 September this year.

According to the Dhaka Stock Exchange (DSE), Miracle shares jumped 9.87% to Tk33.40 each till 11am.

The board of Miracle Industries decided that it would re-commence production within 30 September 2023, and necessary investment would therefore be made by its new owner Mehmood Equities Limited, the company said in a disclosure on the stock exchange.

Currently, Miracle is not in production since 1 July 2022.

The company also reconstructed its board by appointing Mehmood Equities owner AKM Sahabub Alam as managing director, Showkat Mehmood and Nayan Mehmood as directors.