Modi Naturals Limited has responded to an email query from both BSE Limited and National Stock Exchange of India Limited dated October 16, 2026, regarding significant price movement in the company's securities.
The company stated that the price movement in its scrip is "purely due to market conditions and absolutely market driven." The management explicitly denied having any control or knowledge of the reasons behind the significant price movement.
The company confirmed it has made and will continue to make all relevant disclosures in compliance with its obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and its agreements with the stock exchanges.
The letter was signed by Akshay Modi, Joint Managing Director (DIN: 03341142), on behalf of Modi Naturals Limited. The correspondence was addressed to the Corporate Relationship Department of BSE Limited and the Listing Department of National Stock Exchange of India Limited.
Financial Impact
No financial impact or specific quantitative figures were disclosed in this clarification. The company characterized the price movement as market-driven without providing specific percentage changes or valuation impacts.