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Although Reckitt Benckiser (Bangladesh) PLC, with renowned household brands such as Mortein, Dettol and Harpic, is light years ahead of little-known cold storage Himadri Ltd in terms of business performance, their stocks prices belie the real scenario.
The stock price of Himadri Ltd, listed with the SME board of the Dhaka Stock Exchange, soared 60-fold in the last four months, prompting an investigation from the Bangladesh Securities and Exchange Commission (BSEC).
Shares of small capital-based companies surged abnormally on the Dhaka Stock Exchange (DSE) in the past month whereas the benchmark index of the premier bourse of Bangladesh, as well as blue-chip securities, has been in a bearish mood.