Board responds to alleged Regulation 17(1A) non-compliance

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+10.0%Reaction day

₹359.10

prior close

₹366.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+9.0% vs market

Industrial Gases peers, median of 5sector-0.1%+10.1% vs sector

On the reaction day the stock moved 9.0 pts more than Nifty Microcap 250 and 10.1 pts more than its Industrial Gases peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.8

10m

-0.5

15m

+0.4

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+10.0+1.0+9.0-0.1+10.1

Next day

+15.5+1.5+13.9-0.0+15.5

+9.6+1.0+8.6-2.0+11.6

+4.1+2.0+2.1-1.8+5.9

-1.1+3.1-4.1-2.1+1.1

-6.0+2.6-8.6-4.3-1.7

-15.1+2.7-17.8-1.7-13.5

15d

-37.7+1.8-39.5-2.8-35.0

-37.9+2.5-40.4-2.7-35.2

-39.7-2.9-36.8-8.1-31.6

-40.0-6.3-33.8-18.3-21.7

UpDownMarket · Nifty Microcap 250Sector · Industrial Gases peers, median of 5Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Exchanges cited alleged non-compliance involving the appointment of an independent director aged over 75. The Board said shareholder approval was obtained by special resolution on 7 August 2023 and again on 15 September 2025, adding that any lapse was technical. It has sought a consolidated waiver and strengthened compliance monitoring.

Likely market impact

The response may help resolve the issue, but the alleged lapse and pending waiver could weigh on sentiment until the exchanges close the matter.