The Pakistan Stock Exchange (PSX) has issued notices to 21 companies after detecting irregularities in their share prices and trading volumes.
The notices were served due to abnormal trading patterns observed across different sectors, prompting the PSX to seek explanations from these firms.
In the textile industry, companies such as Ruby Textile Mills Limited, Gulistan Spinning Mills Limited, and Ali Asghar Textile Mills Limited, among others, were flagged for unusual price fluctuations.
The power and engineering sector also saw scrutiny, with Kohinoor Power Company Limited and Pakistan Engineering Company Limited being queried about their share price anomalies. Additionally, Salman Noman Enterprises Limited faced similar issues.
The chemical sector was not spared, with Ghani Chemical Industries Limited and Berger Paints Pakistan Limited facing inquiries over abnormal trading volumes. Bawany Air Products Limited was also noted for unusual price movements.
In the cement sector, Flying Cement Company Limited was served a notice due to an unexpected rise in its stock price. Other companies experiencing irregularities in both price and volume include Crescent Jute Products Limited and Trust Modaraba.
Imperial Limited and Hallmark Company Limited were also investigated for unusual share price activities.
The PSX has demanded that these companies provide detailed information to clarify the reasons behind the significant price movements, as required under PSX Regulation 5.6.3. This step is part of ensuring transparency and compliance with market regulations.