VASWANI INDUSTRIES LTD. - CLARIFICATION ON PRICE MOVEMENT

With reference to your emails, we wish to state regarding the current movements in share price of the Company, we would like to clarify as under:<BR> All the material information, that have a bearing on the operation/performance of the Company which include all price sensitive information under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 ('Listing regulations'), have always been regularly disclosed by the Company within the stipulated time.<BR> <BR> Further , the promoters have not done any trading in the shares. The increase in the price is related to better financial position of the Company and is to disclosure of better quarterly financial results and the price growth is also due to improved economic condition in steel industry as a whole.<BR> <BR> The increase in price of our shares is a normal increase for reasons stated above.<BR> <BR> We hope the above clarifies and request you to kindly take the same on your records.<BR>