Islamabad: With the unusual fluctuation in the share price of Dewan Textile Mills Limited (DWTM), inquiries have been made regarding the cause behind these changes.

On July 10, 2024, the Pakistan Stock Exchange (PSX) issued a formal inquiry into the significant movement in the share prices of Dewan Textile Mills Limited, a company whose operations have been suspended since December 2015. The company responded, citing longstanding operational suspensions due to litigation, adverse scenarios, and working capital constraints, which have been consistently disclosed in their financial statements.

According to information available from the Pakistan Stock Exchange (PSX), Dewan Textile Mills emphasized its lack of control over share prices or trading volumes. The company clarified that it remains uninformed about any specific factors that might influence the recent fluctuations in its share prices and trading volumes. Market prices, they noted, are influenced by the independent sentiments of buyers and sellers, which are best known to them.

Furthermore, the company reassured the PSX and its investors of its commitment to comply with legal requirements regarding the disclosure of price-sensitive information. They assured that any significant developments that need to be disclosed will be promptly communicated to the exchange for further public dissemination.

In conclusion, while the specific reasons for the recent fluctuations in Dewan Textile Mills Limited's share prices remain unclear, the company has addressed the PSX's concerns to the extent of their knowledge and capabilities.