Significant movement in price has been observed in Confidence Petroleum India Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Confidence Petroleum India Limited has submitted their response.
CONFIPET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The National Stock Exchange had written to Confidence Petroleum India Limited requesting clarification about a significant increase in trading volume of the company's securities. The company responded stating that all material information and price-sensitive announcements have been disclosed as per SEBI regulations. The company clarified that there is no pending information, announcement, or event at their end that may have a bearing on the price or volume behaviour of their securities. According to the company, the increase in trading volume is purely market-driven and they are not aware of any specific reason for the same.
The company has effectively told exchanges there is no hidden catalyst behind the volume spike, which may be interpreted neutrally by the market. However, unexplained volume movements sometimes attract continued speculation.