PSX issues notices to several companies to inquire about unusual price movement

March 17, 2021 (MLN): The Pakistan Stock Exchange, on Wednesday, has issued a series of notifications to various companies inquiring about the unusual changes in the price or volume of their traded securities.

According to PSX’s website, the following companies were issued notices:

• Fazal Cloth Mills Limited
• Premium Textile Mills Limited
• Mughal Iron & Steel Industries Limited
• Soneri Bank Limited
• Service Fabric Limited
• Indus Dyeing & Manufacturing Co. Limited

PSX informed all the above-mentioned companies that they should provide the exchange with details of any matter or development that is or may be relevant to the unusual movements, or a statement of the fact that it is not aware of any such matter or development.

‘In case of any material/price-sensitive information that is likely to affect the market price/volume, the companies are required to share the same to the Exchange for its onward dissemination to all market participants, the notice said.

‘In the absence of any material announcement of the company, it is advisable to furnish the reason and/or any material information in Company’s knowledge which may have resulted in a substantial increase or decrease in price’, it added.

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