BSE seeks clarification on spurt in volume from Garden Reach Shipbuilders

The BSE on Wednesday sought a clarification from Garden Reach Shipbuilders & Engineers Ltd with reference to movement in volume.

The company in its reply to BSE said: “We would like to submit that the Company is regularly intimating all the events, information etc. that have a bearing on the operation/performance of the company which include all price sensitive information, etc. to the Stock Exchanges, as per Regulation 30 of the SEBI (LODR) Regulations, 2015.

“Further, we would like to inform that there is no material/ price sensitive information or event which requires/pending for any disclosures or announcement in terms of Regulation 30 of the SEBI (LODR) Regulations, 2015 to the Stock Exchanges. The increase in volume of our scrip is purely market driven."

The stock of the PSU, GRSE stock is up 17.7 per cent at Rs 773 on the BSE.

Another defence PSU stocks, Cochin Shipyard is up 16.6 per cent at Rs 802 on BSE.

The stock is following results declared by the company.