No PSI, no profits — So what is driving these DSE stock surges?
People look at stock market data. File Photo: TBS
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People look at stock market data. File Photo: TBS
Nahee Aluminum Composite and Anlimayarn Dyeing Limited have officially informed the Dhaka Stock Exchange (DSE) that there is no undisclosed price-sensitive information (PSI) behind the recent unusual surge in their share prices and trading volumes.
Both companies issued these clarifications in response to formal queries from the bourse after their stocks witnessed massive growth within a single month, raising concerns of speculative trading among market participants.
Nahee Aluminum Composite, currently traded in the ‘B’ category, saw its share price jump by a staggering 72% over the last thirty days. The scrip rose a further 4.27% to settle at Tk39.10 yesterday. However, the company’s recent financial performance appears disconnected from its stock market rally.
In the FY2024–25, Nahee Aluminum paid a negligible 1% cash dividend despite incurring a net loss of Tk49 crore.
Its latest quarterly results for January–March, 2026 show that earnings per share (EPS) plummeted to Tk0.02 from Tk0.14 in the corresponding period of the previous year.
Management attributed the sharp decline in earnings to escalating finance expenses and higher production costs, although net operating cash flow per share showed a slight improvement due to better collections from accounts receivable.
Similarly, Anlimayarn Dyeing Limited responded to a DSE query on Monday, stating that it had no significant corporate developments to disclose.
Its stock has appreciated 46% over the past month, hitting the upper circuit-breaker limit on Tuesday with a 9.73% jump to reach Tk28.20.
The firm is currently classified as a ‘Z’ category, or junk, stock, largely due to its failure to reward shareholders since the FY2020–21.
The company’s fundamentals remain under severe pressure. Its net loss widened to Tk1.23 per share in the third quarter of FY2026, compared with a loss of Tk1.03 a year earlier. Net asset value (NAV) per share has also eroded sharply, dropping from Tk5.63 in June 2025 to just Tk2.83 by the end of March 2026.
Market analysts note that rallies in companies with deteriorating earnings, high debt, or junk status often signal a speculative bubble driven by momentum rather than fundamentals. With the management of both firms explicitly denying any new price-influencing information, the recent market activity underscores the volatile and risk-prone nature of the current trading environment on the Dhaka bourse.
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