Karachi: Ruby Textile Mills Limited ("RUBY") has been contacted by the Regulatory Affairs Division for a clarification concerning the significant movement in its share price. According to information available from the Pakistan Stock Exchange (PSX), this request was made through letter No. PSX/Gen-1232 dated September 05, 2024, under Section 97 of the Securities Act, 2015, and PSX Regulation 5.6.3.
The correspondence was intended for the dissemination among all market participants, underscoring the need for transparency in market operations and the importance of maintaining regulatory standards. The significant price volatility of RUBY's shares has raised questions within the trading community, prompting this investigative measure by the PSX.
This action aligns with the PSX's commitment to ensure fair trading practices and to protect the interests of investors by closely monitoring market activities and responding to irregularities swiftly. RUBY is expected to provide a detailed response to the PSX to clarify the reasons behind the unusual fluctuations in its share price.