The spectacular rise in the prices of certain shares from March 25, 2020 to date has left investors gasping for breath.
The invasion of Covid-19 dented the KSE-100 index, which reached its nadir of 27,229 points on March 25 last year. From there onwards, the index displayed an upward spiral that over the last 10 months has gradually reached 45,984 points. This represents a 31-month high and a massive recovery of 69 per cent.
During the same period, price gains in certain stocks have been mind-blowing: two stocks in the technology sector have left analysts scratching their heads. TRG Ltd was languishing at Rs12.87 on March 25. It is now trading at Rs109.50, up 751pc in 10 months.
Business
January 22, 2021
KARACHI: Pakistan Stock Exchange (PSX) has asked various companies to explain the reasons behind what it says unusual movement in prices and turnover of their shares during the ongoing week, it was learnt on Thursday.
In a notice, PSX asked them âto respond promptlyâ and share with it âdetails of any matter or development that is or may be relevant to the unusual movements or a statement of the fact that it is not aware of any such matter or developmentâ. The companies that have been served notices include Aisha Steel Mills, SS Oil Mills, Saritow Spinning Mills, Rupali Polyester, Punjab Oil Mills, First Prudential Modaraba, Nimir Resins, Pakistan Engineering Company, Netsol Technologies, Khurshid Spinning Mills, Ideal Spinning Mills, Hira Textile Mills, Data Agro, Cyan Limited, Crescent Textile Mills, and Abddullah Shah Ghazi Sugar Mills.