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PSX issues notices to 11 companies for unusual price movement

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.