Essar Shipping addresses share price movement after BSE query

Essar Shipping Limited confirmed receipt of an email from BSE Limited seeking clarification on the company's price movement. The company stated that, in its opinion, there is no pending price-sensitive information or announcement that could have caused the significant movement in its scrip's price or volume on the exchanges, and no information has been withheld.

The company further clarified that the recent price movement of its scrip, as observed by both NSE and BSE, is solely market-driven and a result of prevailing market conditions.

Essar Shipping reiterated its commitment to making consistent disclosures to the stock exchanges as per applicable regulations. The company affirmed that it will continue to ensure all required information and announcements are promptly shared with the stock exchanges as and when they arise. The letter was signed by habib jan, company secretary & compliance officer.