Karachi: Reliance Cotton Spinning Mills Limited (RCML) experienced significant, unexplained fluctuations in share prices and trading volumes. The company has officially responded to inquiries about these anomalies, asserting their compliance with all relevant regulations and denying any undisclosed material information that could have influenced these movements.
In a recent communication addressed to PSX, dated August 6, 2024, with reference number PSX/Gen-1072, RCML addressed concerns regarding the unexpected market activity. According to Section 97 of the Securities Act, 2015, and clause 5.6.3 of PSX Regulation, the company has confirmed that it remains unaware of any undisclosed factors that might have contributed to the unusual trading patterns observed.
According to information available from the Pakistan Stock Exchange (PSX), RCML reiterated its commitment to stringent regulatory adherence, emphasizing ongoing efforts to uphold transparency and regulatory standards as mandated by the Pakistan Stock Exchange. The company's vigilance in monitoring trading activities and ensuring all pertinent information is promptly shared with the market through PUCARS is evident in their response.
Market analysts continue to watch the movements of RCML shares closely, as the company maintains its stance of full regulatory compliance and transparency in its operations.