Karachi: In response to unusual movements observed in the price and volume of its shares, Service Industries Textiles Limited (SERT) has been advised by the Pakistan Stock Exchange (PSX) to provide clarity and further information on the matter.

According to the PSX, there was a notable fluctuation in the share price and trading volume of SERT during the preceding period. This prompted a notification as per Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations. These regulations mandate listed companies to promptly disclose any relevant developments that could influence unusual trading activities to the public.

In compliance with the regulatory requirements, SERT has been directed to utilize the Public Companies Accounting and Reporting System (PUCARS) to disseminate any pertinent information. This system ensures that all stakeholders, including investors and regulators, are kept informed about significant developments that might affect stock values.

According to information available from the Pakistan Stock Exchange (PSX), the observed fluctuations in SERT's stock might be connected to undisclosed material developments. As stipulated under PSX Regulation 5.6.1, it is crucial for listed companies to promptly share any price-sensitive information through PSX, which then disseminates it further to ensure market transparency.

SERT is currently assessing the situation and is expected to issue either a detailed report outlining any relevant factors contributing to these unusual movements or a statement confirming the absence of any known influences. The company's response will help clarify the situation for investors and comply with the regulatory frameworks designed to maintain market integrity.