Share price volatility: Premier Polyfilm makes a counter question to bourses

New Delhi: After stock exchanges sought a clarification on price movement of the company’s shares, Premier Polyfilm has in turn asked them to investigate reasons for sudden increase, prices and volume of shares which is not in the interest of investors and promoters.

“In this regard, we hereby inform you that there is no price sensitive information with the company which has not been disclosed to Stock Exchanges. Moreover, company is yet to approve and announce its Financial Results for the quarter and six months ended on September 30. In addition, recently no announcement has been made by the company/ management/ promoters about change in profitability/ sales and/ or book order position of the company. Hence this cannot be the reason for increase in price and volume of the shares. We have also noted that there was substantial change in the price and volume of shares of the company in the recent past," Premier Polyfilm said in its reply to BSE.

“Now, we request you to look into the reasons for sudden rise in prices and volume of share of the company at your own level and take action accordingly. This will also be in the interest of investors and promoters. In the event, if you come across any reasons which can jeopardise the interest of the investors or the company, kindly caution us," the company said.

BSE had sought clarification from Premier Polyfilm with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.