Description
Reliance Industries Limited and Indian Energy Exchange Limited provide clarifications to BSE regarding news articles about Russian oil deliveries and APTEL hearing respectively.
Summary
BSE received clarifications from two companies regarding news articles: (1) Reliance Industries Limited clarified that Bloomberg corrected their news report about Russian oil cargo deliveries to Jamnagar refinery, confirming vessels discharged elsewhere; (2) Indian Energy Exchange Limited confirmed the news article referenced a public hearing at APTEL scheduled for January 6, 2026, regarding their petition challenging CERC’s market coupling order dated July 23, 2025.
Key Points
- Reliance Industries denied receiving Russian oil at Jamnagar refinery in recent weeks
- Bloomberg initially published incorrect report claiming three vessels laden with Russian oil heading to Reliance’s refinery
- Bloomberg subsequently corrected their report, clarifying Russian oil cargo discharged elsewhere
- Reliance confirmed no linkage between stock price movement and news article
- Indian Energy Exchange clarified news about APTEL hearing on market coupling norms
- IEX hearing relates to petition challenging CERC’s suo-motu order dated July 23, 2025
- Both companies confirmed no undisclosed information that could explain trading movements
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Companies confirmed compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Both companies stated no information withheld that should have been announced to stock exchanges
- Companies will continue making disclosures as per regulatory obligations
Important Dates
- January 6, 2026: Date of BSE query to companies
- January 6, 2026: Date of company clarifications
- January 6, 2026: APTEL hearing date for IEX petition
- July 23, 2025: Date of CERC suo-motu order on market coupling (referenced by IEX)
Impact Assessment
Market Impact: Low - These are routine clarifications addressing news articles. Reliance corrected misinformation about Russian oil deliveries, while IEX provided context about a public legal proceeding. Both companies confirmed no undisclosed material information.
Operational Impact: None - No operational changes or requirements arising from these clarifications.
Investor Impact: Low - Clarifications provide transparency but contain no new material information affecting investment decisions. Stock price movements, if any, are not linked to undisclosed information per company statements.
Impact Justification
Routine clarifications provided by companies in response to news articles. No material information disclosed that was not already in public domain. No operational or financial impact.