Hyderabad, Dec 5 (UNI) A day after Andhra Pradesh Chief Minister YS Jagan Mohan Reddy in the House expressed doubts whether share price rigging was resorted, to hike the value of Heritage Foods Limited (HFL)shares in the market, HFL on Saturday clarified that Indian Stock markets are well regulated under statue by competent authorities and no one can manipulate or ‘rig’ the share prices as alleged.
Speaking on the fifth day of the AP Assembly Winter Session on Friday during the discussion hour, the Chief Minister brought to fore how the share values of Heritage Foods Limited had fluctuated when the Chandrababu Naidu was in power and when he was not. The Heritage Foods is owned by the TDP National President and Leader of the Opposition N Chandrababu Naidu.
In a release, HFL President M.Sambasiva Rao also clarified that the share price of any listed company is valued by investors based on performance of the company and based on relevant macro-economic factors.