Chenab Limited said on Monday that it was unaware of abnormal movement in the volume and price of its shares.
A similar dismissal was also announced by GOC. Both the companies shared this in separate notices to the Pakistan Stock Exchange (PSX) today.
Chenab said that it was observing for several days the unusual movement during which trading crossed 12 million shares.
“Since, we have no material and price sensitive information, you are requested to please investigate into the matter and also inform us accordingly,” it urged the bourse.
Meanwhile, GOC said that it had no means to address the issue of
movement in share price of the company.
“We also wish to state that we are not aware of any reasons that may have led to increase in price of the share of the Company,” the notice to the PSX read.
Chenab Limited was incorporated in Pakistan as a private limited company in 1985 and was subsequently converted into a public limited company.
The company is engaged in the export of value-added fabrics, textile made-ups, and casual and fashion garments. It is also engaged in the toll manufacturing of fabric in the local market
Meanwhile, GOC was incorporated in Pakistan as a private limited company in 1964 and was converted into a public limited company in 1986.
The principal activity of the company is the manufacturing and sale of cricket balls, hockey sticks, and other quality sports goods.
