Karachi: Dewan Mushtaq Textile Mills Limited (DMTM) is currently under scrutiny following an unusual movement in the price of its shares. This development comes in compliance with Section 97 of the Securities Act, 2015, and clause 5.6.3 of the Pakistan Stock Exchange (PSX) Regulations, which mandate listed companies to address any significant fluctuations in their traded securities' price or volume.

The Pakistan Stock Exchange observed this unusual movement in DMTM's share prices over the preceding period. Under the PSX regulations, companies are obliged to provide a detailed disclosure to the public, either explaining any known factors contributing to these fluctuations or affirming their lack of awareness of such factors.

According to information available from the Pakistan Stock Exchange (PSX), DMTM is required to furnish sufficient information to clarify its position regarding the unusual share price movements. This disclosure should be made through the PSX's Public Information, Clarification, and Awareness Response System (PUCARS) to ensure timely public dissemination.

The regulations stipulate that in the event of any material or price-sensitive information that could impact the share price or trading volume, listed companies must promptly release it via the PSX, as specified under PSX Regulation 5.6.1. This requirement aims to maintain market transparency and protect investors' interests.

As of the date of this report, DMTM has been advised to comply with PSX Regulation 5.6.3 by providing any available information that might explain the unusual share price movement. The Karachi-based textile company's response is awaited, and further updates will be made available as the situation develops.

The designated market category for DMTM is the textile sector, which remains a significant component of Pakistan's economic landscape.