Clarification on movement in price is attached herewith.
Price
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BSE Surveillance asked Southern Magnesium & Chemicals Ltd to explain unusual movement in the price of their shares (BSE Scrip Code: 513498). The company responded that they have made all required prompt disclosures under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 within stipulated timelines. The company stated they have not withheld any price-sensitive information that could affect operations, performance, or share price. They attributed the price movement to general market factors rather than company-specific developments. The letter was signed by Managing Director and CFO N. Rajender Prasad.
This is a routine clarification filing with no adverse findings. The company has confirmed full compliance with disclosure requirements, which is neutral to positive for investors as it indicates no hidden material developments.