Karachi: In response to an inquiry from the Pakistan Stock Exchange regarding unusual fluctuations in its stock price, Dewan Automotive Engineering Limited (DWAE) stated on July 10, 2024, that it has no insight into the factors driving these changes.

According to the letter No. PSX/Gen-936, the exchange sought clarification on the unexpected price movements observed in DWAE's shares. The company replied that it does not control or influence its share price or trading volumes on the stock exchange. They expressed unawareness of any specific reasons or factors that could be causing the fluctuating share prices and trading volumes.

DWAE emphasized that market prices are influenced by various elements, including investor sentiment, which remains at the discretion of individual buyers and sellers.

According to information available from the Pakistan Stock Exchange (PSX), the company also highlighted its compliance with legal requirements concerning the disclosure of price-sensitive information as mandated by PSX regulations. DWAE assured the exchange that it would promptly disclose any significant developments to ensure transparency and compliance with market regulations.

In conclusion, Dewan Automotive has addressed the PSX’s concerns by confirming its adherence to disclosure standards, although it remains unable to specify the causes behind the recent price volatility of its shares.