Karachi: The Pakistan Stock Exchange (PSX) has issued a formal inquiry to Gulistan Spinning Mills Limited (GUSM) regarding a significant movement in the price of its shares. The notice, part of a regulatory oversight effort, was dispatched on September 05, 2024, citing the protocols under Section 97 of the Securities Act, 2015 and PSX Regulation 5.6.3.

According to information available from the Pakistan Stock Exchange (PSX), the exchange's Regulatory Affairs Division sent letter No. PSX/Gen-1232 to GUSM seeking explanations for the recent volatility in its share prices. This move aims to ensure transparency and maintain market stability by scrutinizing unusual trading patterns that could affect investor confidence.

The inquiry highlights PSX's commitment to stringent compliance and oversight, reflecting its role in safeguarding investor interests against market anomalies. Market participants are closely monitoring the situation, awaiting further disclosures from GUSM that could shed light on the reasons behind the price fluctuations.