Karachi August 25, 2021: Pakistan Stock Exchange (PSX) has observed that the price in the shares of certain companies has increased substantially during the last three months and asked them to submit reason for this substantial increase.
PSX has issued notices to TPL Corporation Limited, Dewan Textile Mills Limited, Dadex Eternit Limited, Dewan Farooque Motors Limited, Dewan Farooque Spinning Mills Limited, Pakistan Synthetics Limited, Pace Pakistan Limited, Towellers Limited, Data Agro Limited, Maqbool Textile Mills Limited, Frieslandcampina Engro Pakistan Limited, First Imrooz Modaraba, Popular Islamic Modaraba and TPL Properties Limited.
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PSX have asked the companies to furnish the reason or any material information in company’s knowledge which have resulted in this substantial price movement.
PSX clarified that in case of any material/price-sensitive information that is likely to affect the market price/volume, companies are required to share the same to the exchange for its dissemination to all market participants as prescribed under law.