JSCL eyes oil marketing business

LAHORE: In a notification sent to the Pakistan Stock Exchange (PSX) JS Company Limited (JSCL) notified the bourse that it is currently considering buying an existing oil marketing company (OMC) to set up its operations in the country under JS Fuel, a wholly owned subsidiary of JSCL.

The company notice issued on the exchanged read, “A wholly owned subsidiary of Jahangir Siddiqui & Co. Ltd. has initiated a process to acquire an existing Oil Marketing Company operating in Pakistan subject to necessary approvals as required under the law.”

At the close of trading on Thursday, JSCL was trading on the PSX at Rs19.18 per share, up Rs0.13 or 0.68 per cent from the start of the day with 0.14 million shares traded.