KARACHI: Pakistan Stock Exchange (PSX) on Thursday issued notices to 11 listed companies for unusual price movement in their share prices during the past three months.
The PSX said that while reviewing the trading data, it had been observed that the price and volume of the said companies had experienced substantial increase during last three months.
The PSX issued notices to the following companies:
KASB Modaraba
Sally Textile Mills Limited
J A Textile Mills Limited
Pakgen Power Limited
Ibrahim Fibers Limited
Nazir Cotton Mills Limited
Sana Industries Limited
Hala Enterprises Limited
Landmark Spinning Industries Limited
Media Times Limited
Frontier Ceramics Limited
The PSX directed the companies to furnish reasons and any other material information which may had resulted in substantial increase in price and volume in terms of clause 5.6.3 of PSX Regulations and Section 97 of the Securities Act, 2015 immediately.
Market analysts said that the stock exchange regularly monitors unusual movements in share prices and trading volumes to ensure transparency and protect investors’ interests. They added that listed companies are required to promptly disclose any price-sensitive information, including corporate developments, financial results, mergers, acquisitions or other significant events that could influence investor sentiment. The PSX may take further regulatory action if satisfactory explanations are not provided by the companies.