With reference to your letter regarding clarification on price movement, we hereby submitted that the Company has always disclosed, to the stock exchange, all the material information, which has a bearing on operations/ performance of the Company including all necessary disclosures in accordance with regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulation") within the stipulated time. We hereby further submit that we are not aware of the reason of significant movement in the price of our shares. The movement in the share price is purely market driven. The management of the company is in no way connected with the movement in the price of the shares. Our promoter stake in the Company is stable for more than year. We would like to reiterate that the Company has always and will continue to adhere to the compliances required under the Listing Regulations and other applicable laws.