Description

HPCL and L&T clarify news articles regarding Venezuelan crude procurement and US nuclear market expansion respectively

Summary

BSE issued a circular containing clarifications from two companies regarding news articles. Hindustan Petroleum Corporation Limited (HPCL) denied negotiations for Venezuelan crude oil procurement in response to a news article. Larsen & Toubro Limited (L&T) confirmed information about US nuclear market MoUs was already disclosed through earnings calls and prior public announcements.

Key Points

  • HPCL clarified no negotiations have taken place for procurement of Venezuelan crude oil
  • HPCL stated the news article titled “HPCL seeks Venezuelan crude to boost heavy oil runs” is incorrect and out of context
  • HPCL confirmed no undisclosed information exists that could explain scrip price movement
  • L&T confirmed information about nuclear market MoUs was discussed in quarterly earnings call on January 28, 2026
  • L&T’s MoU with Holtec was disclosed via media release on November 3, 2025
  • L&T’s MoU with Clean Core Thorium Energy was published on company website on October 18, 2024
  • L&T announced Q3 and nine-month financial results for period ended December 31, 2025 on January 28, 2026

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

Companies provided mandatory clarifications in response to stock exchange queries regarding news articles as per disclosure requirements. No additional compliance requirements specified.

Important Dates

  • January 28, 2026: BSE sought clarification from HPCL on news article
  • January 29, 2026: Companies submitted clarifications to BSE
  • January 28, 2026: L&T quarterly earnings call held
  • January 28, 2026: L&T Q3 FY2025-26 results submitted to stock exchanges
  • November 3, 2025: L&T-Holtec MoU media release issued
  • October 18, 2024: L&T-Clean Core Thorium Energy MoU published

Impact Assessment

Minimal market impact expected. HPCL’s denial of Venezuelan crude negotiations clarifies market speculation. L&T’s confirmation that nuclear MoU information was already in public domain through prior disclosures suggests no new material information. Both companies attribute any scrip price movements to general market conditions and investor sentiment rather than undisclosed material events. No legal or regulatory proceedings involved.

Impact Justification

Routine clarifications on media articles with no material undisclosed information or price movement concerns