Description

BSE surveillance clarifications from BLS International Services Ltd. and Hind Rectifiers Ltd. regarding significant increases in trading volumes. BLS International cites no known reason, while Hind Rectifiers attributes the movement to its announced bonus issue.

Summary

BSE Surveillance sought clarifications from BLS International Services Ltd. (Scrip Code: 540073) and Hind Rectifiers Ltd. (Scrip Code: 504036) regarding significant increases in their trading volumes. Both companies responded on February 24, 2026, reaffirming their compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Points

  • BLS International Services Ltd. (BSE: 540073) stated it has not withheld any material information and is unaware of the specific reason for the volume increase in its securities.
  • Hind Rectifiers Ltd. (BSE: 504036) attributed the volume increase to its proposed bonus issue, which had already been publicly disclosed through timely intimations to the stock exchanges.
  • Both companies reiterated their commitment to prompt and transparent disclosure of all material events under Regulation 30 of the SEBI LODR Regulations.
  • Hind Rectifiers confirmed disclosures made include: Board Meeting intimation (Feb 5, 2026), Board Meeting outcome approving bonus issue (Feb 11, 2026), and Postal Ballot Notice (Feb 17, 2026).

Regulatory Changes

No regulatory changes are introduced. This circular documents company responses to BSE surveillance queries under existing SEBI LODR Regulation 30 obligations.

Compliance Requirements

  • Both companies have affirmed ongoing compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • Companies are required to promptly disclose any material or price-sensitive information to stock exchanges.
  • No new compliance actions are required from investors or market participants as a result of this circular.

Important Dates

  • 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 Services (Ref: L/SURV/ONL/PV/SG/2025-26/929).
  • February 24, 2026: Both companies submitted their clarification responses to BSE.

Impact Assessment

The impact of this circular on the broader market is low. Both clarifications are routine surveillance responses. For Hind Rectifiers, the volume increase is linked to a previously announced and fully disclosed bonus issue, meaning no new material information has emerged. For BLS International, no material event has been identified. Investors should note that Hind Rectifiers’ bonus issue remains in progress pending member approval via postal ballot.

Impact Justification

Routine surveillance clarifications from two companies; no undisclosed material events. Hind Rectifiers volume movement is explained by a previously disclosed bonus issue, reducing information asymmetry risk.