Alicon Castalloy Says It Is Unaware of Reason Behind Surge in Trading Volumes

Alicon Castalloy Limited has said it is unaware of the reason behind the significant increase in trading volumes in its shares, after the National Stock Exchange (NSE) sought a clarification from the company. 

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In a response submitted to the exchange on September 30, Alicon Castalloy said it was not in a position to comment on what had led to the higher trading activity in its shares. 

The clarification followed an email from the NSE’s Surveillance Department on the same day, seeking the company’s response to the increase in volumes. 

Alicon Castalloy Claims Material Information Timely Disclosed 

While no explanation was provided by the company for the high trading volume, the company stated that it has been providing the information regarded as material or price sensitive to the stock exchanges in a timely manner. 

“Alicon Castalloy confirms that it has been making timely disclosures of material or price sensitive information related to the Company in compliance with the requirements of both the NSE and BSE,” the company stated. 

According to Alicon Castalloy, it has been making disclosures as per the requirement of the regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 

“We are not aware of the reasons behind the significant rise in the trading volumes of the shares of our Company,” Alicon Castalloy said in its statement of clarification. 

Clarification Filed to NSE Surveillance Department 

This clarification was filed to the Surveillance Department of NSE and is signed by the Company Secretary, Sneha Shukla, representing Alicon Castalloy. 

There is no mention of any event specific to the company, which has led to the increased volume of trading in the filing. 

Thus, Alicon Castalloy is restricted in its reply by saying that they do not know what the cause of the unusual trading pattern is, but at the same time all material information and price sensitive information has been disclosed to the exchanges.