Karachi: An unusual fluctuation in the share prices of Ghandhara Automobiles Limited (GAL) has caught the attention of market regulators and participants, prompting a formal response from the company. According to a letter addressed to the Pakistan Stock Exchange (PSX) dated January 17, 2025, Ghandhara Automobiles Limited clarified its position regarding the unexpected movement in its stock value.

In compliance with Section 97 of the Securities Act 2015 and Clause 5.6.3 of the PSX Regulations, Ghandhara Automobiles Limited stated that there is no undisclosed material information or development that could have influenced the recent volatility in its share prices. The company emphasized that all pertinent information has been consistently communicated to market participants through the Public Companies Automated Reporting System (PUCARS).

The company urged the Pakistan Stock Exchange to inform the Certificate Holders of the Exchange accordingly, ensuring transparency and adherence to regulatory requirements. The unexpected changes in share prices have raised concerns among investors, leading to heightened scrutiny within the designated market category.

According to information available from the Pakistan Stock Exchange (PSX), the movement in Ghandhara Automobiles Limited's shares occurred during the preceding period, yet the company reassures stakeholders that it is not aware of any undisclosed events that could have contributed to this trend.

The company remains committed to maintaining transparency and upholding the principles of fair market practices. As the situation develops, investors and market analysts are keenly observing any further updates or disclosures from Ghandhara Automobiles Limited, while the PSX continues to monitor the situation closely.