PSX issues notices to 11 companies for unusual price drive in 3 months

KARACHI: The 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 has been observed that the price and volume of the said companies had experienced substantial increase during the last three months.
The PSX issued notices to the companies including KASB Modaraba, Sally Textile Mills Limited, JA 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, and Frontier Ceramics Limited.
The PSX directed the companies to furnish reasons and any other material information which may have 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. – TLTP

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