Description

BSE seeks clarifications from Genesys International Corporation Limited, Mangalore Refinery and Petrochemicals Limited, and Pokarna Limited regarding significant spurt in trading volume of their securities.

Summary

BSE Limited issued surveillance queries to three companies - Genesys International Corporation Limited (Scrip: 506109), Mangalore Refinery and Petrochemicals Limited (Scrip: 500109), and Pokarna Limited (Scrip: 532486) - seeking clarifications on significant increase in trading volume of their securities across exchanges. All three companies responded on October 17, 2025.

Key Points

  • Genesys International Corporation Limited: Confirmed that the volume increase was related to disclosure of an order secured from Tata Motor Passenger Vehicles Limited (Tata Motors), which was disclosed on October 17, 2025 after receiving customer consent under their Non-Disclosure Agreement
  • Mangalore Refinery and Petrochemicals Limited (MRPL): Clarified that there is no unpublished price sensitive information/event due for disclosure under Regulation 30 of SEBI LODR Regulations 2015; stated volume movement is market driven
  • Pokarna Limited: Received BSE query via email on October 17, 2025 regarding movement in scrip volume (response content not fully provided in source documents)
  • All responses were provided under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Regulatory Changes

No regulatory changes announced. This circular documents routine surveillance activities by BSE under existing SEBI LODR Regulations.

Compliance Requirements

  • Companies must respond promptly to stock exchange surveillance queries regarding unusual price or volume movements
  • Companies must confirm whether there is any unpublished price sensitive information pending disclosure
  • Disclosures must be made in accordance with Regulation 30 of SEBI LODR Regulations 2015
  • Companies with non-disclosure agreements must obtain customer consent before disclosing material information

Important Dates

  • October 16, 2025: BSE issued surveillance query to Genesys (Reference: L/SURV/ONL/PV/AA/2025-2026/580)
  • October 17, 2025: All three companies provided clarifications to BSE
  • October 17, 2025: BSE issued surveillance query to MRPL (Reference: L/SURV/ONL/PV/AA/2025-2026/584)
  • October 17, 2025: BSE issued surveillance query to Pokarna via email

Impact Assessment

Market Impact: Medium - Surveillance queries typically indicate unusual trading activity that may concern market participants. However, companies’ clarifications should provide transparency and restore normal trading conditions.

Operational Impact: Low - Routine compliance activity requiring companies to respond to exchange queries. Only Genesys had material disclosure related to a commercial order.

Investor Impact: Medium - Provides transparency to investors regarding unusual volume spikes. Genesys investors now have information about the Tata Motors order; MRPL and Pokarna investors are assured no material undisclosed information exists.

Regulatory Significance: This demonstrates active surveillance by BSE to monitor unusual trading patterns and ensure timely disclosure of price-sensitive information, protecting market integrity.

Impact Justification

Routine surveillance queries regarding unusual trading volumes; companies clarified no undisclosed price-sensitive information except Genesys which disclosed Tata Motors order information