ICB Islamic Bank’s share price is rising

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The shares of ICB Islamic Bank, which have been consistently losing, have increased by 60 percent in the last one month. The market capitalization of ICB Islamic Bank has been rising, says analysts, the price of shares of a company in such a situation does not normally increase. But if there is any price sensitive information or rumors, then the demand increases, as well as the price increases.

In the last one month, the shares of ICB Islamic Bank increased by Tk 3 A month ago the company’s share price was 5 paise 10 paisa. Today, after the first trading day of the week on Sunday, the share price of the company rose more than 9 percent (70 paisa). At the end of the transaction the price was 8 Taka 10 paisa.

According to the Dhaka Stock Exchange (DSE), due to recent reasons, the share price is increasing at an abnormal rate. ICB Islamic Bank This information was found in the DSE formulas. DSE has come to notice that the company’s share price has been rising abnormally for quite some time. DSE gives notice to the company, asking for the reason for the increase in unusual prices. In response to the notice, the company told DSE that their share prices are increasing unnatural without any price sensitive information.

Asked about this, Dhaka University’s Economics Department teacher Mohammad Helal said that the price of the shares could not increase due to fundamental reasons. The company may have any price sensitive information. But since it is openly not being called. So a reason can be said for a reason that the demand for shares of this company has increased. And the price increases due to increased demand. Do not rumor, it will tell time.

The company has been in losses for nearly a decade. According to information from the DSE website, at the end of 2015, the company’s loss was Tk 14 crore. Last year it increased to 27 million taka In the first nine months of the current year (January-September) the company has lost 28 million taka According to the latest unverified financial report, the loss of the bank was 40 paisa. Half-yearly loss (January-June) is a loss of 27 paisa. The company has not paid dividends for the last three years. If a company can not pay dividends to the end of the year, then the company is reduced to ‘Z’ category.

ICB Islamic Bank started its activities on May 20, 1987 in the name of Al-Barka Bank Bangladesh Limited. After the change of ownership in 2004, the bank executed the name of Oriental Bank Limited. Soon after the transfer of ownership, the Oriental Bank started unprecedented loot. The Bangladesh Bank later placed the administrators. But due to the liquidity crisis the depositors were unable to raise money from the bank at that time. The government then launched a scheme in 2007 to give back the money to the depositors. Later, the majority of the shares were bought by the auction company for sale, while the Swiss-based ICB Financial Group AG Then in 2008, the Oriental Bank started its journey with all the properties and liabilities of ICB Islamic Bank.

Meanwhile, the turnover of the index has ended in the last two trading days of the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). After the turnover of the DSE, the main index DSEX rose to 14.36 points, with 6336 points. Total transactions amounted to 790 crore 83 lakh taka Shares of mutual funds and mutual funds increased by 170, 113 fell and 45 remained unchanged.

Companies today at the top of the DSE are Eastern Cable Limited, Padma Life Insurance, Renwick, Pharma Aid, WATA Chemical, National Tubes, Osmania Galvanizing, DESCO, Prime Textile and Anlima Yarn.

Today the turnover was AB Bank Limited, Shahjalal Islami Bank Limited, Paramount Textile, BD Thai, City Bank Limited, National Tubes, United Power Generation and Distribution Company, Fas Finance, Dhaka Bank Limited and Golden Harvest.

On the other hand, the overall index of the CSE has increased to 30.88 points today. The total transaction amount is around 33.58 million taka. The share price between the mutual funds and the mutual fund increased 118, the number of 97 decreased and remained unchanged at 32.

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