The Pakistan Stock Exchange (PSX) has issued notices to 21 companies following unusual movements in share prices and trading volumes. The exchange identified abnormal trading patterns across various sectors and sought explanations from the concerned companies.
In the textile sector, Ruby Textile Mills Limited, Gulistan Spinning Mills Limited, Ali Asghar Textile Mills Limited, Suhail Jute Mills Limited, Colony Textile Mills Limited, Bilal Fibres Limited, and AN Textile Mills Limited were served notice for abnormal price fluctuations.Â
In the power and engineering sector, Kohinoor Power Company Limited and Pakistan Engineering Company Limited were issued notices due to unusual price movements in their shares. Additionally, Salman Noman Enterprises Limited also experienced trading anomalies.
The chemical sector was also under scrutiny, with Ghani Chemical Industries Limited and Berger Paints Pakistan Limited facing inquiries related to abnormal share volumes. Similarly, Bawany Air Products Limited was flagged for unusual price movements.
In the cement sector, Flying Cement Company Limited was issued a notice following an unusual uptick in its stock price.
Other companies that saw both price and volume irregularities include Crescent Jute Products Limited and Trust Modaraba. Imperial Limited and Hallmark Company Limited were also served notices for unusual price movements in their stocks.
In case of any material or price-sensitive information that is likely to affect the price or volume of the shares, listed companies are required to promptly disseminate the information through PSX for its onward dissemination to the public as stipulated under PSX Regulation 5.6.1.
PSX has asked these companies to furnish sufficient information to clarify their position which may have resulted in significant movement in prices of their security in accordance with the PSX Regulation 5.6.3. promptly through PUCARS for public information.
