Astec Lifesciences share price rallied 17% on NSE in Wednesday's trading session despite weak sentiments in the Indian stock market. The stock opened at ₹691 per share today, as compared to previous close of ₹662.80 on Tuesday.
Meanwhile, benchmark indices Sensex and Nifty plunged in early trade on Wednesday as escalating tensions in West Asia drove crude oil prices close to the $100-per-barrel mark. The 30-share BSE Sensex fell 500.25 points to 75,060.61, while the 50-share NSE Nifty declined 129.40 points to 23,506.10.
In an exchange filing dated 9 September, Astec Lifesciences gave a clarification on significant increase in the volume of security across exchange.
“We wish to inform you that as a Listed Company, we are conscious of our responsibility to disseminate to the Stock Exchanges, information that could have an impact on the price of the Company’s shares. Consistent with this approach, we have been promptly disseminating to the Stock Exchanges, events or information which are required to be disclosed pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”),” the firm said.
The company further informed that in compliance with respect to disclosures that are required to be made under the Listing Regulations and also confirm that there are no developments that have taken place requiring mandatory disclosure under Listing Regulations or the Securities and Exchange Board of India.