Alembic stock slips 4.5% post clarification

The Company has not indicated any such proposal to anyone nor do we have any such plans. The company said statement is not only false but misleading for investors.

Jul 16, 2020 11:07 IST India Infoline News Service

Shares of Alembic slipped 4.5% on the BSE in the morning trade. The company clarifies that its fermentation facilities have been closed down and its runs only a chemistry-based small API unit.

“With reference to the captioned matter, we would like to inform that it has come to our notice that a message recommending the shares of the Company is getting circulated on What's App (copy of the message is enclosed). We strongly refute the statement 'Company's Management also indicated the value unlocking .... .',” the company said.

The Company has not indicated any such proposal to anyone nor do we have any such plans. The company said statement is not only false but misleading for investors.

Alembic Ltd is currently trading at Rs82.50, down by Rs4.85 or 5.55% from its previous closing of Rs87.35 on the BSE. The scrip opened at Rs86.45 and has touched a high and low of Rs87.75 and Rs82.15 respectively. 

“We would also like to state that our Fermentation facilities have been closed down long time back and we run only a Chemistry based small API unit. We don't wish to comment on other statements which are writer's perception,” it added.

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