Ali Asghar Textile Mills Denies Unusual Stock Activity

Ali Asghar Textile Mills Limited (AATM) has addressed reports regarding irregular movements in its stock price.

In a statement to the Pakistan Stock Exchange (PSX), the company asserted, “There is no pertinent matter. We have no additional details beyond what was previously shared in the Director’s Report of March 2025 concerning the company’s financial health and prospective strategies.”

The company also noted that its subsidiary, Fazal Solar Energy, has commenced its solar project, with the installation of essential machinery and solar panels underway.

The statement continued, “Management expresses confidence that the solar power facility, equipped with advanced technology, is slated to become fully operational by the beginning of July 2025.” The company has transitioned from a textile manufacturer to a provider of logistic services.

Notably, AATM’s stock value has increased significantly in recent weeks, climbing from Rs40 to over Rs70 per share.

At the time of this report, the stock was being traded at approximately Rs72.

According to information available on its official website, Ali Asghar Textile Mills Limited was founded in 1969 as a textile spinning operation.

In 2011, company leadership decided to discontinue textile spinning activities and redirect investments towards warehousing and logistics solutions.