Description

BSE surveillance requested clarifications from Solara Active Pharma Sciences, Bombay Burmah Trading Corporation, and Capital India Finance regarding significant increase in trading volumes. All companies confirmed compliance with disclosure requirements and stated no price-sensitive information was withheld.

Summary

BSE Surveillance issued volume movement queries to three companies - Solara Active Pharma Sciences Limited, The Bombay Burmah Trading Corporation Limited, and Capital India Finance Limited - on December 4, 2025, seeking clarification on significant increases in trading volumes. All three companies responded confirming full compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and stated they have not withheld any material or price-sensitive information that would impact price/volume behavior.

Key Points

  • Solara Active Pharma Sciences Limited (Scrip code not specified) responded that all required disclosures under Regulation 30 of SEBI LODR have been made
  • Bombay Burmah Trading Corporation Limited (Scrip Code: 501425) stated all information required under Regulation 30 has been duly disclosed and there is no price-sensitive information requiring disclosure
  • Capital India Finance Limited (Scrip Code: 530879, 976963) confirmed consistent compliance with SEBI LODR provisions and timely disclosure of all events with bearing on operations/performance
  • All companies stated they do not know specific reasons for volume increases
  • No material information has been withheld by any of the companies

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Companies must respond to BSE surveillance queries regarding unusual trading activity
  • Companies must confirm compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies must disclose if any material or price-sensitive information has been withheld
  • Company Secretary & Compliance Officer must sign and submit the clarification

Important Dates

  • December 4, 2025: BSE surveillance issued queries (Ref. Nos.: L/SURV/ONL/PV/APJ/2025-2026/733, 734, 735)
  • December 4, 2025: All three companies submitted clarifications on the same day

Impact Assessment

Market Impact: Minimal. These are routine surveillance queries and standard compliance responses with no disclosure of new material information.

Operational Impact: None. Companies confirmed they are already in full compliance with disclosure requirements.

Investor Impact: Neutral. The clarifications provide assurance that volume increases are not due to undisclosed material information, but do not explain the actual reasons for increased trading activity.

Regulatory Impact: Standard surveillance procedure demonstrating BSE’s monitoring of unusual market activity and ensuring compliance with disclosure norms.

Impact Justification

Routine surveillance clarifications confirming no undisclosed material information. Standard regulatory compliance response with no market impact.