Karachi: Reproduced hereunder letter No. PSX/Gen-1612 dated November 13, 2024, sent to Dewan Automotive Engineering Limited (DWAE) under Section 97 of the Securities Act, 2015 and PSX Regulation 5.6.3, seeking clarification regarding unusual movement in price of its shares for information of all market participants.

The Pakistan Stock Exchange (PSX) has formally requested Dewan Automotive Engineering Limited to provide explanations concerning the significant fluctuations observed in its stock prices. This inquiry, mandated under the financial regulatory framework, aims to ensure transparency and maintain investor confidence by addressing any potential irregularities or misunderstandings in the market dynamics.

According to information available from the Pakistan Stock Exchange (PSX), such regulatory measures are routine and indicate a proactive approach towards monitoring listed companies’ compliance with financial disclosure requirements. The action underscores the importance of safeguarding investor interests and the integrity of the financial market.

DWAE, listed under the engineering sector, has been asked to respond promptly with detailed explanations to clarify the causes behind the recent volatility in its share prices. The stock market’s regulatory body emphasizes the need for timely and accurate information to prevent speculative trading that could harm the overall market stability.