ISP ISN Surges: Stock Soars Despite Sustained Losses
Information Services Network (ISN), Bangladesh’s first internet service provider, topped the list of gainers at the Dhaka Stock Exchange (DSE) in the outgoing week (August 24–28). The loss-making company had also led the chart in the previous week (August 17–21), when its share price surged by 47.26 percent. Investor demand for ISN shares pushed its price higher on all five trading days of the week.
According to DSE’s weekly market review, ISN’s share price rose by 45.59 percent over the week. The company’s share, which closed at Tk 72.60 in the previous week, ended at Tk 105.70 on the last trading day of the outgoing week.
ISN’s stock registered a daily increase of 9.99 percent and recorded 3,599 trades involving 1,656,392 shares, amounting to a market value of Tk 157.6 million.
Despite the surge, the company remains mired in losses. The DSE itself has termed the rise “abnormal,” while the Bangladesh Securities and Exchange Commission (BSEC) has directed the DSE to investigate the unusual price hike. However, these interventions have not slowed the upward trend in ISN’s share price.
In the second position among top gainers was Trust Islami Life Insurance. Its share price climbed from Tk 62.70 in the previous week to Tk 83.20, marking a 32.70 percent increase, or Tk 20.50. The company saw 707 trades with 952,961 shares exchanged, totaling Tk 29.4 million in market value.
Energy giant Energypac Power Generation secured the third spot with a 32.35 percent rise. Its stock price rose from Tk 17 to Tk 22.50, a weekly gain of Tk 5.50. The company’s shares were traded 3,336 times, amounting to 6,694,478 shares with a market value of Tk 148.3 million.
Other companies on the weekly gainers’ list included Progressive Life Insurance, Munnu Fabrics, Sonali Paper, Paramount Textile, Sinobangla, Shahjibazar Power, and Jahin Textile. Among others, Best Holdings rose 9.64 percent, Prime Finance First Mutual Fund 9.60 percent, Intech 9.30 percent, Renata 8.74 percent, Wata Chemicals 8.74 percent, Trust Islami Life 7.91 percent, and Capitec Grameen Bank Growth Fund 7.35 percent.
