Shares of Pakistan International Airlines (PIA) have witnessed a sharp surge in both price and trading volume over the past two months, prompting the Pakistan Stock Exchange (PSX) to issue a notice seeking clarification from the national carrier.
The Pakistan Stock Exchange formally asked PIA to explain the sudden rise in its share price and increased trading activity. The move came after PIA shares recorded an unusual upward trend in a short period.
In response, PIA informed the PSX that it was not aware of any material development or undisclosed information that could have influenced the stock’s price.
PIA shares double in value
Over the last two months, PIA’s share price has increased by nearly 100%. The stock, which was trading around Rs23, has now risen to approximately Rs46 in the stock market.
Alongside the price increase, trading volume in PIA shares has also surged significantly, attracting investor attention.
Govt announces PIA auction date
The rally in PIA shares comes as the government has announced plans to auction the airline on December 23. The announcement has fueled market speculation and investor interest, despite the airline’s clarification to the PSX.
Market analysts believe expectations surrounding the privatization process may be contributing to the stock’s strong performance.
