DSE Suspends Zeal Bangla Sugar Trading Over Unusual Surge

Dhaka Stock Exchange (DSE) temporarily suspended the trading of shares for Zeal Bangla Sugar Mills on Tuesday after witnessing an unusual surge in both price and transaction volume.

According to DSE, the company’s shares recently exhibited abnormal price hikes and trading trends despite no official Price Sensitive Information (PSI) or announcements regarding business progress.

DSE already published a notification regarding the matter on its website.

Market observers said that the recent rise in Zeal Bangla Sugar’s share price is inconsistent with the company’s financial health, business operations, or fundamentals. DSE data shows the price jumped from Tk 122.10 on 18 June to Tk 160.50 by 2 July.

This represents a surge of Tk 38.40 - an increase of more than 31.44 percent - in just nine working days.

Earlier, on 2 July, DSE issued a letter to the company seeking an explanation for the price and volume spike. In its response, the company added that it possesses no undisclosed information that could influence its share price or trading volume, confirming that no dramatic shifts have occurred in its business operations or financial position.

DSE said that there is no clear link between the price hike and the company’s actual business situation. As a result, authorities are investigating whether the surge involves insider information, coordinated trading, or market manipulation. DSE requested necessary documents and additional information from the company.

Zeal Bangla Sugar Mills was listed on the stock market in 1988. The company’s paid-up capital stands at Tk 6 crore.