IB Power sheds light on price rise

With reference to Increase in Price, Indiabulls Power Ltd has Clarified as under:

'The Company has been fully compliant with the provisions of clause 36 of the Listing Agreement and that all events, information which would have a bearing of the price of shares of the Company have at the relevant points of time been duly disclosed to the Exchange and simultaneously been uploaded on the website of the Company and that nothing is pending disclosure, with it.

Further, in our view the recent spurt in the price of shares of the Company may be the result of improved market sentiment, post declaration of election results of Lok Sabha.'

After market hours, IB Power closed at Rs14.70, up by 1.66%, with a volume of 32.51 lakh shares on the BSE.

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IB Power sheds light on price rise