Description

BLS International Services Ltd. and Hind Rectifiers Ltd. respond to BSE surveillance queries on significant increase in trading volumes, with Hind Rectifiers attributing the movement to its proposed bonus issue.

Summary

BSE Surveillance issued queries to two listed companies — BLS International Services Ltd. (Scrip Code: 540073) and Hind Rectifiers Ltd. (Scrip Code: 504036) — regarding significant increases in trading volume of their securities. Both companies submitted clarifications on February 24, 2026, confirming compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Points

  • BLS International Services Ltd. (BSE: 540073) states it has not withheld any material information and is unaware of any specific reason for the recent surge in trading volume.
  • Hind Rectifiers Ltd. (BSE: 504036) attributes the volume increase to its proposed bonus issue, which was announced and disclosed to stock exchanges in compliance with SEBI LODR Regulations.
  • Hind Rectifiers confirms three prior disclosures: board meeting intimation for bonus issue consideration (Feb 5, 2026), outcome of board meeting approving bonus issue (Feb 11, 2026), and postal ballot notice seeking member approval (Feb 17, 2026).
  • Both companies reiterate commitment to timely and transparent disclosures under Regulation 30 of SEBI LODR Regulations.
  • No undisclosed price-sensitive information has been identified by either company.

Regulatory Changes

No new regulatory changes. The clarifications are in the context of existing obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Requirements

  • Both companies confirm ongoing adherence to Regulation 30 of SEBI LODR Regulations for timely disclosure of material events.
  • Hind Rectifiers has satisfied disclosure requirements related to its bonus issue through sequential filings with stock exchanges.
  • No additional compliance actions are required from investors or other market participants based on this circular.

Important Dates

  • February 5, 2026: Hind Rectifiers — Board meeting intimation for bonus issue consideration filed.
  • February 11, 2026: Hind Rectifiers — Board meeting outcome approving bonus issue filed.
  • February 17, 2026: Hind Rectifiers — Postal ballot notice for member approval filed.
  • February 23, 2026: NSE surveillance query issued to Hind Rectifiers (Ref: NSE/CM/Surveillance/16496).
  • February 24, 2026: BSE surveillance query issued to BLS International (Ref: L/SURV/ONL/PV/SG/2025-26/929); both companies submit clarifications.

Impact Assessment

The market impact of this circular is low. Both clarifications are procedural responses to surveillance queries and do not introduce new information that would materially affect either stock. For Hind Rectifiers (BSE: 504036), the volume increase is already explained by the widely disclosed proposed bonus issue, which may continue to attract investor interest. For BLS International Services (BSE: 540073), no causal factor has been identified, and the company reaffirms standard disclosure practices. Investors should monitor for further updates, particularly on the Hind Rectifiers bonus issue approval outcome via postal ballot.

Impact Justification

Routine surveillance clarifications; BLS International finds no known reason for volume spike, while Hind Rectifiers' volume increase is already explained by a previously disclosed bonus issue. No new material information or regulatory change introduced.