Description

Companies respond to stock exchange queries regarding media reports - Tata Motors on Iveco acquisition and Nuvama on IT department survey.

Summary

Two companies provided clarifications to BSE regarding media reports. Tata Motors clarified speculation about a $4.5 billion Iveco deal, confirming board approval for 100% acquisition of Iveco Group N.V. on July 30, 2025. Nuvama Wealth Management addressed reports about an Income Tax Department survey at their registered office, confirming the ongoing survey under Section 133A of the Income Tax Act, 1961.

Key Points

  • Tata Motors initially called media reports “speculative and premature”
  • Board of Directors approved 100% acquisition of Iveco Group N.V. common shares on July 30, 2025
  • All required disclosures under SEBI Listing Regulations have been submitted within stipulated time
  • Income Tax Department conducting survey at Nuvama’s registered office under Section 133A
  • Nuvama extending full cooperation with authorities and sharing requisite information
  • Survey at Nuvama was ongoing at time of clarification
  • Both companies confirmed business continues as usual

Regulatory Changes

No regulatory changes announced. Both responses relate to compliance with existing SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Compliance Requirements

  • Companies must respond to stock exchange queries regarding media reports
  • Material acquisitions require board approval and timely disclosure to exchanges
  • Companies must disclose regulatory proceedings if material to business operations
  • Full cooperation required with tax authorities during surveys

Important Dates

  • July 30, 2025: Tata Motors board meeting approving Iveco acquisition
  • July 31, 2025: Date of Nuvama’s clarification response
  • Survey at Nuvama ongoing as of July 31, 2025

Impact Assessment

Medium impact for both companies. Tata Motors’ acquisition of Iveco Group represents a significant strategic move requiring investor attention. The IT survey at Nuvama, while routine, affects market sentiment for the wealth management company. Both clarifications provide transparency to investors and help address market speculation.

Impact Justification

Material clarifications from major companies on significant business developments