Shares of Vaibhav Global Ltd climbed for the fourth day after the company clarified stock exchanges about the recent surge in volumes.
Vaibhav Global said it has intimated all material events and information to the stock exchanges, from time to time, as required to be disclosed under regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
It said the spurt in volume was purely due to market conditions and market driven on which the company neither has any control nor has any knowledge of reasons.
“The company reiterates its adherence to the requirements laid down in SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and we will keep the Stock Exchanges duly informed of any information as required under the said regulations as and when any such event occurs,” it said.
On Friday, the scrip was trading 2.72 per cent higher at Rs 240.90. The scrip gained 4.12 per cent in the previous session, half a per cent on October 21 and 1.2 per cent on October 20.
Ace investor Vijay Kedia owned 33,75,000 shares, or 2.02 per cent stake, in the company at the end of September quarter.
VGL group is a vertically integrated fashion retailer, with multi-channel presence across well-integrated platforms, comprising 24x7proprietary TV home-shopping channels, e-commerce websites, mobile apps, smart TV, OTT platforms, social media platforms, influence marketing, third-party marketplaces, and other digital means.