Karachi: Sunrays Textile Mills Limited (SUTM) has witnessed an unusual movement in the price of its shares, prompting the Pakistan Stock Exchange (PSX) to seek clarification from the company. This activity comes in accordance with Section 97 of the Securities Act, 2015, and clause 5.6.3 of PSX Regulations, which mandate listed companies to disclose relevant developments or state the absence of such events in response to significant market fluctuations.

According to information available from the Pakistan Stock Exchange (PSX), SUTM has been advised to provide adequate information regarding any developments that may have influenced the unusual price movement. The regulation requires that any material or price-sensitive information likely to impact the share price or volume must be promptly shared with the public through PSX.

In compliance with PSX Regulation 5.6.1, Sunrays Textile Mills is expected to clarify its position on this matter, ensuring that all market participants are adequately informed via PUCARS. The company must either disclose the details of an influencing development or confirm its unawareness of any such matter.

The designated market category for Sunrays Textile Mills remains under scrutiny as the company addresses the PSX's inquiry.