Description

BSE circular containing clarifications from Reliance Industries Limited regarding Russian oil deliveries and Indian Energy Exchange regarding APTEL hearing on market coupling norms.

Summary

BSE requested clarifications from Reliance Industries Limited (scrip code: 500325) and Indian Energy Exchange Limited (scrip code: 540750) on news articles that appeared in media. Reliance clarified reports about Russian oil deliveries to its Jamnagar refinery, while IEX clarified reports about an APTEL hearing on market coupling norms. Both companies confirmed no undisclosed material information exists that could explain stock price movements.

Key Points

  • Reliance Industries denied buying Russian oil for January delivery despite Bloomberg reports claiming three vessels were heading to Jamnagar refinery
  • Bloomberg subsequently updated their report clarifying that Russian oil cargo earlier linked to Reliance discharged elsewhere
  • Reliance stated there is no linkage between equity share price movement and the news article
  • Indian Energy Exchange confirmed a hearing scheduled for January 6, 2026 before APTEL regarding CERC’s Suo-Motu Order dated July 23, 2025 on market coupling implementation
  • Both companies confirmed compliance with SEBI LODR Regulations 2015 and no undisclosed material information exists

Regulatory Changes

No regulatory changes announced. This circular pertains to routine disclosure clarifications under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Requirements

  • Listed companies must respond to stock exchange queries regarding news articles that may impact stock prices
  • Companies must confirm whether any undisclosed material information exists that could explain price movements
  • Compliance with ongoing disclosure obligations under SEBI LODR 2015

Important Dates

  • January 6, 2026: Date of BSE clarification request and company responses
  • January 6, 2026: Scheduled APTEL hearing for IEX’s petition against CERC order
  • July 23, 2025: Date of CERC Suo-Motu Order on market coupling (referenced by IEX)

Impact Assessment

Market Impact: Medium - Both clarifications address media reports that could influence investor sentiment. Reliance’s clarification resolves confusion about Russian oil procurement, while IEX’s response relates to ongoing litigation regarding market coupling regulations that could affect power exchange operations.

Operational Impact: Low - No immediate operational changes required. These are disclosure compliance responses to exchange queries.

Investor Impact: Medium - Provides transparency to investors about news reports and confirms no material undisclosed information exists, helping maintain market confidence and informed trading decisions.

Impact Justification

Routine news clarifications from two companies addressing media reports and stock price movements; no material undisclosed information or regulatory changes