The Bangladesh Securities and Exchange Commission (BSEC) has ordered an investigation into the abnormal increase in the share price of Agni Systems Limited, a listed company in the capital market.

According to sources, share price in Agni Systems has been increasing at an unusual rate in recent times. BSEC has ordered the Dhaka Stock Exchange (DSE) to investigate such a situation.

It is learned that the BSEC has called for a thorough investigation into the business activities of the company from July 26 to October 9 this year.

Sources said the purpose of the investigation is to find out whether market manipulation, insider trading or any other irregularities contributed to the abnormal rise in the company’s share price.

The investigation team of DSE has been asked to submit its report to the vigilance department of BSEC within 30 working days.

According to DSE sources, the share price of Agni System was 24 taka 90 paisa on July 26. Last Wednesday, the rate increased by 65.46 percent to 41 taka 20 paisa.

The capital market regulator BSEC considers the rise in the share price of Agni Systems to be unusual amid the country’s ongoing economic uncertainty.

Agni Systems has been providing internet services since 1995. The company was listed on the stock market in 2003.

The main business of the company is electronic mail, internet access, electronic data communication, computer networking, software development. Agni Systems also provides consulting services for all types of computer software and communications.

This information is known from the relevant sources of BSEC.