Lahore: Shakarganj Limited has reported unusual movements in the trading volume and price of its shares, raising concerns over potential market manipulation. The company disclosed that its share price reached the upper circuit breaker on four occasions between April 3 and April 9, 2025, despite an overall negative market sentiment at the Pakistan Stock Exchange (PSX).

In a letter dated April 17, 2025, Shakarganj Limited addressed these concerns to the Pakistan Stock Exchange Limited, referencing unusual activity in the company's stock. The company's letter, dated April 10, 2025, highlighted the consecutive price increases via circuit breakers and suggested that these movements might indicate possible manipulation of the stock price, which could contravene the Securities Act, 2015.

The company has formally requested that the PSX review the trading activities in light of the information provided. According to information available from the Pakistan Stock Exchange (PSX), the stock's unusual price movement occurred during a period of negative sentiment in the broader market.

Shakarganj Limited has affirmed its commitment to complying with the Securities Act, 2015, and the PSX Regulations regarding timely and accurate disclosures. The company insists that it has consistently adhered to these requirements.

The market category for Shakarganj Limited falls under the designated market category. The company's communication aims to ensure transparency and uphold market integrity amidst the unusual trading activity surrounding its shares.