Karachi: Ghandhara Automobiles Limited ("GAL") has been requested by the Pakistan Stock Exchange (PSX) to explain recent unusual movements in its share price. This follows an observation of significant volatility in GAL’s trading activity over the previous period.

The PSX has invoked the provisions of Section 97 of the Securities Act, 2015, and clause 5.6.3 of its regulations, necessitating that listed companies promptly disclose any information regarding unusual trading patterns. According to these regulations, GAL must either reveal any pertinent developments or confirm the absence of such information affecting its share price.

According to information available from the Pakistan Stock Exchange (PSX), this regulatory measure seeks to ensure that all market participants have access to the same information, thereby safeguarding the market's integrity and the interests of the investors. The guidelines stipulate that any material, price-sensitive information identified should be immediately communicated to the PSX for public distribution.

In response to this requirement, GAL is expected to conduct a thorough review and disclose the factors contributing to the recent price fluctuations of its shares. This disclosure is crucial not only for regulatory compliance but also for maintaining transparency with investors and the broader market.