Description

BSE circular containing clarifications from The Sandur Manganese & Iron Ores Limited, UPL Limited, and A-1 Limited regarding recent increase in trading volumes of their shares.

Summary

BSE issued a circular on December 15, 2025 containing clarifications from three listed companies - The Sandur Manganese & Iron Ores Limited (SANDUMA), UPL Limited, and A-1 Limited - in response to exchange queries regarding unusual increase in trading volumes 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

  • The Sandur Manganese & Iron Ores Limited (Scrip Codes: 504918 & 976135, Symbol: SANDUMA) responded to BSE’s volume movement letter dated December 15, 2025
  • Company confirmed all necessary disclosures made pursuant to Regulation 30 of SEBI LODR 2015
  • No withheld information or pending announcements that could impact price/volume behavior
  • UPL Limited (Scrip Code: 512070) clarified consistent adherence to disclosure requirements under Regulation 30
  • UPL confirmed no unpublished price sensitive information or events due for disclosure
  • A-1 Limited also included in the circular (CIN: L24119GJ2004PLC044011)
  • All companies attributed volume increase to market-driven factors

Regulatory Changes

No regulatory changes announced. This is a routine surveillance and disclosure compliance matter under existing SEBI LODR Regulation 30 framework.

Compliance Requirements

  • Companies required to respond to stock exchange queries regarding unusual price/volume movements
  • Confirmation of compliance with Regulation 30 disclosure obligations
  • Declaration of any undisclosed price sensitive information or pending announcements
  • Companies must clarify whether volume movements correlate to any company-specific information

Important Dates

  • December 15, 2025: Date of BSE query and company responses
  • The Sandur Manganese & Iron Ores Limited reference: L/SURV/ONL/PV/APJ/2025-2026/763

Impact Assessment

Market Impact: Minimal. These are standard clarifications confirming no undisclosed material information behind volume spurts. The market-driven nature of volume increases suggests normal trading activity without company-specific catalysts.

Investor Impact: Low. Investors can be assured that no price sensitive information has been withheld by these companies and they remain compliant with disclosure norms.

Operational Impact: None. This is routine surveillance mechanism by the exchange to ensure market integrity and prevent information asymmetry. Companies have demonstrated timely compliance with exchange queries.

Impact Justification

Routine clarifications from companies confirming no undisclosed price sensitive information behind volume spurt; market-driven movements with no material impact