Description

BSE sought clarifications from Akzo Nobel India Limited and Balkrishna Industries Limited regarding significant increases in share volume. Both companies confirmed no unpublished price-sensitive information pending disclosure.

Summary

BSE Surveillance issued inquiries to Akzo Nobel India Limited (Scrip Code: 500710) and Balkrishna Industries Limited regarding significant increases in trading volumes of their securities. Both companies responded on December 3, 2025, confirming that all required disclosures have been made under SEBI (LODR) Regulations, 2015, and no unpublished price-sensitive information is pending disclosure.

Key Points

  • BSE Surveillance contacted both companies via letters dated December 3, 2025 (reference numbers L/SURV/ONL/PV/APJ/2025-2026/724 for Akzo Nobel and /725 for Balkrishna Industries)
  • Akzo Nobel India Limited: Confirmed all disclosures made regarding portfolio review by ultimate holding company Akzo Nobel N.V. and Open Offer by JSW Paints Limited (Acquirer)
  • Akzo Nobel: No specific information received from parent company or acquirer regarding volume movement
  • Balkrishna Industries: Stated volume increase is market driven
  • Both companies confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
  • No material unpublished price-sensitive information pending disclosure from either company

Regulatory Changes

No regulatory changes announced. This circular documents routine surveillance monitoring and company responses.

Compliance Requirements

  • Companies must respond to BSE Surveillance inquiries regarding unusual trading activity
  • Confirmation required that all disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015 are current
  • Companies must disclose if any unpublished price-sensitive information exists that could explain volume movements

Important Dates

  • December 3, 2025: BSE Surveillance letters issued
  • December 3, 2025: Company responses submitted (Akzo Nobel received inquiry at 11:23 AM)

Impact Assessment

Market Impact: Minimal. The inquiries are routine surveillance measures, and both companies confirmed no pending material disclosures.

Investor Impact: Provides transparency that volume increases are market-driven rather than based on undisclosed material information.

Operational Impact: None. Standard compliance response to exchange surveillance.

Notable Context: Akzo Nobel’s response references ongoing portfolio review by parent company Akzo Nobel N.V. and Open Offer process by JSW Paints Limited, suggesting market participants may be trading based on these previously disclosed developments.

Impact Justification

Routine surveillance inquiry with standard responses from companies confirming compliance and no pending disclosures. Market-driven volume changes with no material impact.