KARACHI: The K-Electric Limited (KEL) claimed that it is not aware of any matter and /or material information which may have resulted in the movement in price and volume.
The company has shared this information to the Pakistan Stock Exchange (PSX) website on Friday after its share price went up by 50 paisas on January 12 after the highest trading volume for the last four days.
The sources in the market claimed that there were rumours in the market that Ex-CEO of KE, Tabish Gohar, is negotiating with the government and for the settlement of the deal with KE and Shanghai Electric Power Company (SEP).
According to the rumours, the meeting was to be held today (Friday). The price of the KE’s share had dropped from Rs 4.50 to Rs 4.24 till 11am today.