Premier Polyfilm Says No Undisclosed Material Event Behind Surge in Trading Volume

Premier Polyfilm Limited has clarified that it is not aware of any undisclosed material event or information that could explain the recent increase in trading volume in its shares. 

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The company issued the clarification to the National Stock Exchange of India on September 24, responding to a surveillance query received a day earlier over the significant rise in trading activity in its securities. 

Premier Polyfilm said it has continued to meet its disclosure requirements under Regulation 30 and other applicable provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. 

Company cites trading driven by market dynamics 

With regard to the changes seen in the trading volume, Premier Polyfilm stated that, according to information available to the company, there was nothing material that could have been a cause of this increase in trading volume. 

The company explained that the change in trading volume was due to market dynamics and trading activity in the market. 

It added that there were other external dynamics that could affect trading volumes, including investor sentiment, among others. 

The company did not provide specific figures of the increase in trading volume during the period when the change in trading volume occurred. 

Premier Polyfilm says required disclosures have been made 

Premier Polyfilm also confirmed that it has not withheld or suppressed information required to be disclosed under SEBI’s listing regulations. 

According to the company, events and developments that are required to be reported to the NSE and BSE, including information that could have a material or price-sensitive impact on its operations, performance or securities, have been disclosed in accordance with the applicable requirements. 

The September 24 response was submitted after the NSE sent Premier Polyfilm a letter on September 23 seeking clarification on the significant increase in trading volume. 

Company reiterates disclosure commitment 

Premier Polyfilm said it would continue to inform the stock exchanges if any event, development or information requiring disclosure arises in the future. 

Such disclosures would be made under Regulation 30 or other applicable provisions of the SEBI listing regulations. 

The company trades on the NSE under the symbol PREMIERPOL. 

Premier Polyfilm manufactures vinyl flooring, PVC sheeting, PVC geomembranes and PVC artificial leather cloth. Its manufacturing facility is located in the Sahibabad Industrial Area in Ghaziabad, Uttar Pradesh. 

The company’s clarification is limited to the unusual trading volume and does not identify any company-specific development as the reason for the increase.