The Bangladesh Securities and Exchange Commission (BSEC) has ordered the Dhaka Stock Exchange (DSE) to investigate the unusual price surge of Khan Brothers PP Woven Bag Industries.

The stock market regulator issued a letter to the chief regulatory officer of the DSE today.  

The DSE has been asked to submit a report to the BSEC's surveillance department within 30 working days. 

Moreover, the BSEC advised notifying the concerned authorised representative, compliance officer or CEO of the stock brokerage firm immediately regarding any suspicious trading activity.

The BSEC noted that the recent fluctuations in the price and trading volume of the company's shares appear unusual and suspicious.

As a result, the commission has instructed the identification of potential causes behind the irregular price and volume movements, including any market manipulation, insider trading, or other forms of market abuse.

According to DSE data, the stock price of the PP woven bag company surged around 126 percent to Tk 176 over the past 15 working days.