PSX issues notices to PIA, 10 companies for unusual price movement

PSX issues notices to PIA, 10 companies for unusual price movement

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday issued notices of unusual movement in price or volume to 11 companies, including Pakistan International Airlines Corporation Limited (PIACL).

The PSX in the notice to PIACL said that if there are unusual movements in the price or volume of its traded securities is observed:

(a) Details of any matter or development of which it is aware that is or may relevant to the unusual movements, or

(b) A statement of the fact that it is not aware of any such matter or development.

“It may be noted that while reviewing the trading data of the company, it has been observed that the price of PIA has experienced substantial increase during last two months.”

The PSX further said: “In new of the above and in the absence of any material announcement of the company, you are advised to furnish the reason and/ or any material information in company’s knowledge which may have resulted in substantial increase in price in terms of clause 5.6.3. of PSX Regulations and Section 97 of the Securities Act, 2012 immediately.”

The PSX issued notices of unusual movement in price or volume to following companies:

01. Tri-Star Power Limited

02. Pakistan Cables Limited

03. Orient Rental Modaraba

04. First Pak Modaraba

05. The Universal Insurance Company Limited

06. Hi-Tech Lubricants Limited

07. Telecard Limited

08. MCB Arif Habib Savings and Investments Limited

09. Silkbank Limited

10. Nagina Cotton Mills Limited

11. Pakistan International Airlines Corp

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