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Habib Sugar Mills addresses trading spike in conjunction with market trend

Habib Sugar Mills addresses trading spike in conjunction with market trend
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December 07, 2023 (MLN): Habib Sugar Mills Limited (PSX: HABSM) has issued a clarification notice to the local bourse today, affirming that the company is not aware of any material information that may have caused the increase in the trading volume of its shares during the period from November 01 to November 30, 2023.

The company has further informed that there was no material development or decision that had been taken by the Board of Directors (BoD) in respect of any price-sensitive information that warranted the company to make a disclosure as per the applicable laws.

“In this regard, it may be noted that the stock market in general has recently witnessed a positive trend, resultantly, companies have witnessed a significant increase in their trading value as well as volumes,” the notice reads further.

In view of the above, the company believes that the current increase in the volume of trading is in line with the recent upward trend in the stock market.

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Posted on: 2023-12-07T16:11:33+05:00