Sharebarta24.com: BSEC is suddenly going to the hardline in response to the stalemate of listed companies in the capital market. However, the country’s capital market is dynamic even in the Corona situation. Market dynamics have been boosted by increased investor confidence. As a result, the share price of most companies has gone up. However, the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the Dhaka and Chittagong stock exchanges, is wary of whether the share prices of the companies are going up too much in this situation.
As a result, the share prices of those companies are rising abnormally almost every day, with their letters asking if there is any price sensitive information (PSI). However, all the companies are giving the same answer that they do not have any price sensitive information behind the increase in the share price. Although the companies are happy with the answer, the regulator BSEC, including the general investors, is not at all satisfied. Therefore, BSEC is going to impose strictures by changing the rules in order to overcome this situation with transparency.
According to BSEC sources, the commission has noticed that at present, all the companies are responding without any reason and there is no price sensitive information behind the increase in their share price. However, after a while, it was seen that the same company has released price sensitive information.
When the stock exchange inquired, the companies said that the board of directors had made such a decision on the relevant date. BSEC Commissioner Prof. to overcome such a situation with transparency. The committee has been formed as per the instructions of Sheikh Shamsuddin Ahmed. The committee is working on this issue. He will submit a report to the commission soon.
Sources said that work is underway to amend the rules of the transaction on the basis of sensitive information. The rules will cover what matters, what matters, what matters, and when the information is to be disclosed. At the same time, the BSEC will check whether the company is releasing sensitive information to increase the share price.
Therefore, after the release of the sensitive information of the concerned company, the BSEC has decided to inform the updated status of its implementation within the stipulated time. If the stock exchange wants to find out the reason for the unusual share price increase, it will inspect the company concerned subject to the permission of BSEC.
Meanwhile, companies that have released price-sensitive information are currently being questioned. At the same time, price sensitive information and price sensitive information are being sought. Companies that are already out of production or there were rumors in the market that they will return to production have been ordered to inspect their factories and offices. Besides, many more companies are under the surveillance of BSEC. BSEC sources said that the factories and offices of those companies will be inspected in phases.
Market analysis has shown that in the last one month (August 6 to September 8), 31 companies in the stock market have sent letters asking if they have any sensitive information behind the rise in share prices. The companies are: Imam Button, Altex Industries, Jutes Spinners, Union Capital, South Bengal Agriculture and Commerce Bank, Salvo Chemical, Dhaka Dyeing, Janata Insurance, Maxon Spinning, Regent Textile, Meghna Petitex, Meghna Petech Industries, Meghna. Finance and Investment,
Alnima Yarn, Safco Spinning, Shampur Sugar, CVO Petrochemical, Style Craft, HR Textile, Alif Manufacturing, Mozaffar Hossain Spinning Mills, Al-Hajj Textile Mills, Rahima Food Corporation, Pros National Housing Finance and Investment, Shampur Sugar Mills and Miracle Industries.
According to those concerned, the companies replied that there was no price-sensitive information behind the rise in share prices – which is not true. Companies behave in such a way to hide the real facts. Most of the time the company concerned hides sensitive information. Reveals price sensitive information after the share price has risen. The companies do this to artificially increase the share price. Therefore, this issue should be examined in more detail by both the stock exchanges and BSEC.
In this regard, Kazi Abdur Razzak, General Secretary of Oikya Parishad, Bangladesh Capital Market Investors, said that the companies whose share prices are rising abnormally need to be investigated in person. For this, the stock exchange needs to have a separate investigation team. We will make a demand to BSEC in this regard soon. When it comes to finding out the reason for the rise in share price, the truth of the answer given by the companies should be examined.
BSEC executive director and spokesperson Mohammad Rezaul Karim said, “The commission is working on the issue. Work is underway to amend the Transaction Rules 1995 on the basis of key sensitive information. There – what matters will be included in the price sensitive information, what matters will be included in the price sensitive information and when that information should be disclosed – these issues are being included in the rules.
If you want to know the reason for the increase in the share price, I hope that the companies will not be able to give a definite answer. However, if the stock exchange wants, it can inspect the company concerned subject to the permission of BSEC.
Meanwhile, Mamun-ur-Rashid, managing director of the Chittagong Stock Exchange (CSE), said, “We are looking into the matter. CSE’s surveillance department is working on this.
Source: Share Barta 24 by www.sharebarta24.com.
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