Description
Companies respond to exchange queries about news articles regarding Iveco acquisition and IT department survey respectively
Summary
Two companies provided clarifications to BSE regarding news articles: Tata Motors confirmed approval of 100% acquisition of Iveco Group N.V. after initial speculation, while Nuvama disclosed an ongoing Income Tax Department survey at their registered office.
Key Points
- Tata Motors clarified that earlier news about $4.5 billion Iveco deal was speculative and premature
- Board of Tata Motors approved 100% acquisition of Iveco Group N.V. common shares on July 30, 2025
- All required disclosures under SEBI Listing Regulations submitted within stipulated time
- Income Tax Department conducting survey under Section 133A at Nuvama’s registered office
- Nuvama extending full cooperation with authorities and continuing business operations
- Survey ongoing with potential for additional disclosures if required
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Companies must respond to exchange queries about news articles affecting stock prices
- Material acquisitions require board approval and timely disclosure to exchanges
- Companies undergoing regulatory surveys must inform exchanges and cooperate with authorities
Important Dates
- July 30, 2025: Tata Motors board meeting approving Iveco acquisition
- July 31, 2025: Date of Income Tax survey at Nuvama offices
- July 31, 2025: Circular publication date
Impact Assessment
Both clarifications address market-moving events that could affect investor sentiment. Tata Motors’ acquisition confirmation provides clarity after speculation, while Nuvama’s survey disclosure ensures transparency during regulatory proceedings. Both companies maintain normal business operations while complying with disclosure requirements.
Impact Justification
Material disclosures from major companies addressing market speculation and regulatory actions