Description
BSE circular containing clarifications from PH Capital Limited, Sula Vineyards Limited, and Castrol India Limited in response to stock exchange queries on significant price or volume movements.
Summary
BSE published clarifications from three listed companies—PH Capital Limited (Scrip Code: 500143), Sula Vineyards Limited (Scrip Code: 543711), and Castrol India Limited—in response to stock exchange surveillance queries regarding unusual price or volume movements on December 26, 2025. All companies confirmed they have disclosed all material information as required under SEBI LODR Regulations 2015 and attributed the movements to normal market conditions.
Key Points
- PH Capital Limited responded to BSE letter L/SURV/ONL/PV/APJ/2025-2026/807 regarding significant price movement
- Sula Vineyards Limited responded to NSE letter NSE/CM/Surveillance/16227 (Dec 24) and BSE letter L/SURV/ONL/PV/APJ/2025-2026/806 (Dec 26) regarding volume increase
- All companies confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
- Companies stated no undisclosed price-sensitive information or material events pending disclosure
- Price/volume movements attributed to market-driven conditions beyond company control
- All companies reaffirmed commitment to timely disclosure of material events
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Companies must respond to stock exchange surveillance queries regarding unusual price/volume movements
- Listed entities must confirm compliance with continuous disclosure obligations under Regulation 30 of SEBI LODR Regulations
- Companies must clarify whether movements are attributable to undisclosed material information
Important Dates
- December 24, 2025: NSE sent surveillance query to Sula Vineyards
- December 26, 2025: BSE sent surveillance queries to PH Capital and Sula Vineyards
- December 26, 2025: Companies submitted clarifications
Impact Assessment
Market Impact: Minimal. These are routine surveillance clarifications confirming no material undisclosed information. The responses provide transparency that observed price/volume movements are market-driven rather than based on insider information or pending announcements.
Investor Impact: Informational only. Investors are assured that companies have met disclosure obligations and no material events are being withheld.
Operational Impact: None. This is standard surveillance procedure where exchanges query companies about unusual trading activity to ensure market integrity and compliance with disclosure norms.
Impact Justification
Routine surveillance clarifications from companies confirming no undisclosed material events; movements attributed to market conditions