Karachi: Nazir Cotton Mills Limited (NCML) has been advised by the Pakistan Stock Exchange (PSX) to disclose any information relevant to the recent unusual movements in its share prices. This follows the requirements under Section 97 of the Securities Act, 2015, and PSX Regulation clause 5.6.3., which mandates prompt public disclosure from listed companies when significant variances in share prices or trading volumes are observed.

According to information available from the Pakistan Stock Exchange (PSX), an unusual movement in the price of the shares of NCML was noted during the preceding period. The exchange has stressed the importance of timely information dissemination through its Public Company Accounting Reform and Investor Protection System (PUCARS), as outlined in PSX Regulation 5.6.1. This regulation requires that any material or price-sensitive information, which could impact share prices or volumes, must be promptly shared with the exchange for public distribution.

NCML is now required to either detail any known matters or developments that may have contributed to the unusual price movements or explicitly state the absence of such knowledge. This response is essential to comply with regulatory requirements and to maintain transparency with investors and the wider market.

The Securities Act and PSX regulations aim to ensure that all market participants have access to clear and timely information, thereby supporting fair trading conditions. NCML's compliance with these regulations will help sustain investor confidence by clarifying the reasons behind any significant changes in its share dynamics.