Description

BSE surveillance circular containing clarifications from Niraj Cement Structurals Limited, Foseco India Limited, and Kernex Microsystems India Ltd regarding unusual price movements and volume increases in their securities.

Summary

BSE issued a circular containing clarifications from three companies - Niraj Cement Structurals Limited, Foseco India Limited, and Kernex Microsystems India Ltd - in response to surveillance queries regarding unusual price movements and increased trading volumes in their securities. All three companies confirmed compliance with SEBI LODR Regulation 30 disclosure requirements and stated that no material information has been withheld, attributing the market movements to normal market dynamics.

Key Points

  • Niraj Cement Structurals Limited (Scrip Code: 532986) responded to BSE surveillance email dated October 14, 2025 regarding price movement
  • Company confirmed all necessary disclosures made timely and accurately under SEBI LODR Regulation 30
  • No material information withheld that could affect share price or volume behavior
  • Price movement attributed to market-driven factors beyond company control
  • Foseco India Limited (BSE Scrip Code: 500150, NSE Symbol: FOSECOIND) responded to NSE letter NSE/CM/Surveillance/15972 dated October 14, 2025 and BSE email L/SURV/ONL/PV/AA/2025-2026/578 dated October 15, 2025
  • Acknowledged significant increase in transaction volume across stock exchanges
  • Confirmed timely disclosure of all material events and price sensitive information
  • No pending announcements that could affect price/volume behavior
  • Kernex Microsystems India Ltd (BSE Scrip Code: 532686) clarification included but document appears incomplete in source material

Regulatory Changes

No regulatory changes announced. This circular documents company compliance with existing SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30 regarding disclosure of material events and price sensitive information.

Compliance Requirements

  • Companies must respond promptly to stock exchange surveillance queries regarding unusual price movements or volume increases
  • Companies required to confirm compliance with Regulation 30 of SEBI LODR Regulations, 2015
  • Companies must disclose whether any material information has been withheld that could impact share price or trading volume
  • Companies must provide explanation for observed market behavior in their securities

Important Dates

  • October 14, 2025: BSE surveillance email sent to Niraj Cement Structurals Limited
  • October 14, 2025: NSE surveillance letter (NSE/CM/Surveillance/15972) sent to Foseco India Limited
  • October 15, 2025: BSE surveillance email (L/SURV/ONL/PV/AA/2025-2026/578) sent to Foseco India Limited
  • October 14, 2025: Niraj Cement Structurals Limited issued clarification letter (Ref: NCSL/BSE/Surveillance/2025-01)
  • October 15, 2025: Foseco India Limited issued clarification letter
  • October 15, 2025: Kernex Microsystems India Ltd issued clarification letter

Impact Assessment

Market Impact: Low - The clarifications confirm no undisclosed material information exists that would warrant investor concern. The price movements and volume increases are attributed to normal market dynamics.

Operational Impact: None - Companies confirmed normal operations with no pending material announcements.

Investor Impact: Low - Provides transparency and reassurance that companies are compliant with disclosure norms. No action required from investors as movements are market-driven.

Compliance Impact: Routine - Standard surveillance mechanism functioning as intended, with companies demonstrating adherence to SEBI LODR requirements.

Impact Justification

Routine surveillance responses confirming compliance with disclosure requirements and attributing price/volume movements to market forces with no material undisclosed information