Karachi: In response to inquiries from the Pakistan Stock Exchange, Service Industries Textiles LTD has issued a statement clarifying its position regarding the recent fluctuations in its share price. The company's letter, dated January 17, 2025, addressed to the PSX, emphasized its compliance with regulatory requirements under Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations.

In their correspondence, Service Industries Textiles LTD assured stakeholders that it has consistently communicated all price-sensitive and material information to the PSX in a timely manner, as stipulated by the regulations. The company reiterated that its Directors, officers, and any associated personnel have not engaged in any activities that could influence share movements. Furthermore, the company stated it is not aware of any external information that could have led to the recent unusual movements in its share price.

The textile firm operates within the designated market category of the Pakistan Stock Exchange. According to information available from the Pakistan Stock Exchange (PSX), there has been a notable fluctuation in the company's stock, prompting the need for clarification from Service Industries Textiles LTD.

The company's proactive communication aims to reassure investors and maintain transparency, ensuring adherence to the regulatory frameworks governing public companies in Pakistan.