Yesterday, the shares of Pharma Aids (a pharmaceutical company) jumped up by Tk.11,616 to Tk.18,580 (reduced from Tk.25,000 in the morning), an increase of 164% in one single day, after its 500% stock dividend declaration by the board of directors on October 28 (news on Pharma Aids)! This was the single most one day increase in the price of a share in the history of Dhaka Stock Exchange.
Another company, Chittagong Vegetable, which remained non-operational during the last couple of years, has announced 20% stock dividend. Right after the announcement (on October 28), yesterday it shoot up by Tk.590 per share to Tk.2,499, an increase of 34% in one single day! On March 1, 2010, the price of Chittagong Vegetable was Tk.305 per share only - means within just 8 months, the price of this share increased by 719.3%.
Anyway, who bought these stocks?