Ali Asghar Textile Mills Limited (AATM) has dismissed news of unusual price movement.
“No matter as such. And no information other than what has been disclosed in the Director’s Report of March 2025 regarding the company’s performance and future plan,” the company wrote to the Pakistan Stock Exchange (PSX).
It further said that its subsidiary, Fazal Solar Energy, has also initiated its solar project, and key machinery/solar panels are being installed.
“Management is confident that the solar plant, based on the latest technology, will be operational by early July 2025,” said the former textile unit turned logistic service provider.
It is worth noting that AATM’s share price has surged from Rs40 to over Rs70 per share in recent weeks.
At the time of filing this report, the stock was trading around Rs72.
As per information available on the company’s website, Ali Asghar Textile Mills Limited was established in 1969 as a textile spinning unit.
However, in 2011, the management decided to exit the textile spinning unit and invest in warehousing/logistics.
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