Bela Automotives replies to PSX on unusual share-price movement and cites court-ordered status quo
Bela Automotives informed PSX that it was not aware of any positive development that could justify the share-price increase and said it had suspected manipulation. The company noted that the business is not operational, the old installed machinery is not working, and it is arranging working capital and repairs. It also disclosed that a shareholder suit concerning share transactions is pending, with the Sindh High Court directing maintenance of status quo until further orders.
