Movement in share price 'absolutely market driven': Finolex Industries to bourses

Finolex Industry Ltd on Thursday informed the stock exchanges that the fall in its share price was "absolutely market driven". The Pune-based company said it has no information and had any announcement, which may impact its share prices movements.

"Whatever movement in the price of the Company's Scrip is purely due to market conditions/fluctuations (i.e. COVID-19 epidemic) and absolutely market driven," the company said. It further said: "We wish to inform you that, to the best of our knowledge, there is no information and/or announcement which in our opinion may have a bearing on the price/volume behaviour of the company's scrip." On Wednesday, the BSE had issued notice to Finolex Industries, seeking clarification with reference to significant movement in its share price.  Shares of Finolex Industries had traded 3.11 per cent down in Tuesday's trade at 10:41 AM . The stock opened at Rs 305 and touched an intraday high and low of Rs 333.0 and Rs 290.05, respectively.

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