Description

Three companies - Sandur Manganese & Iron Ores Limited, UPL Limited, and A-1 Limited - provide clarifications regarding increase in trading volume of their shares.

Summary

BSE issued clarifications from three listed companies - The Sandur Manganese & Iron Ores Limited (SANDUMA), UPL Limited, and A-1 Limited - in response to BSE surveillance queries regarding unusual increase in trading volume of their shares. All three companies confirmed they have made all necessary disclosures under SEBI LODR Regulations 2015 and stated that the volume increase is market-driven with no undisclosed price sensitive information.

Key Points

  • BSE sought clarifications from multiple companies on spurt in trading volume across stock exchanges
  • The Sandur Manganese & Iron Ores Limited confirmed compliance with Regulation 30 of SEBI LODR and stated no withheld information that could affect price/volume behavior
  • UPL Limited confirmed consistent disclosures under SEBI LODR Regulation 30 and no unpublished price sensitive information pending disclosure
  • A-1 Limited was listed but provided no detailed clarification content in the available documents
  • All companies attributed the volume increase to market-driven factors

Regulatory Changes

No regulatory changes. This circular contains company responses to routine surveillance inquiries.

Compliance Requirements

  • Companies must respond to stock exchange surveillance queries regarding abnormal price or volume movements
  • Companies must confirm compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies must declare if any unpublished price sensitive information (UPSI) exists that could impact share price/volume
  • Timely disclosure of material events and information to stock exchanges is mandatory

Important Dates

  • December 15, 2025: Date of BSE surveillance query and company clarifications
  • Sandur Manganese reference: L/SURV/ONL/PV/APJ/2025-2026/763
  • UPL Limited clarification time: 1:39 p.m. on December 15, 2025

Impact Assessment

Market Impact: Minimal. These are routine clarifications confirming no material undisclosed information exists. The volume increases are attributed to normal market dynamics.

Investor Impact: Provides transparency that the trading activity spikes were not driven by insider information or undisclosed material events. Investors can be reassured that companies are in compliance with disclosure norms.

Operational Impact: None. Companies continue normal operations with standard regulatory compliance protocols.

Stocks Affected:

  • The Sandur Manganese & Iron Ores Limited (Scrip Codes: 504918 & 976135, Symbol: SANDUMA)
  • UPL Limited (Scrip Code: 512070)
  • A-1 Limited (CIN: L24119GJ2004PLC044011)

Impact Justification

Routine clarifications by companies confirming no undisclosed UPSI behind volume spikes; market-driven movements with no material impact.