Description
Jindal Saw Ltd. and KRN Heat Exchanger and Refrigeration Ltd. respond to BSE surveillance queries, stating that recent significant price/volume movements are market-driven with no undisclosed price-sensitive information pending.
Summary
BSE issued surveillance queries to Jindal Saw Ltd. (BSE: 500378) and KRN Heat Exchanger and Refrigeration Limited (BSE: 544263) regarding significant recent movements in their respective equity share prices/volumes. Both companies responded with standard clarifications confirming all material disclosures are up to date and movements are market-driven.
Key Points
- Jindal Saw Ltd. received BSE letter ref. L/SURV/ONL/PV/SG/2025-2026/940 dated 26 February 2026 regarding significant increase in trading volume
- KRN Heat Exchanger received BSE letter ref. L/SURV/ONL/PV/SJ/2025-2026/3399 dated 25 February 2026 regarding significant price movement
- Both companies confirmed no undisclosed price-sensitive information or material events pending intimation to stock exchanges
- Both companies stated that price/volume movements are purely market-driven
- Both companies reaffirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
- Jindal Saw’s clarification was signed by Company Secretary Sunil K. Jain (FCS: 3056)
- KRN Heat Exchanger’s clarification was signed by Company Secretary Jitendra Kumar Sharma
Regulatory Changes
No regulatory changes. These are responses to standard BSE surveillance inquiries under existing market monitoring frameworks.
Compliance Requirements
- Both companies have affirmed ongoing compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding timely disclosure of material information
- No additional compliance actions are required from investors or other market participants as a result of these clarifications
Important Dates
- 25 February 2026: BSE surveillance query issued to KRN Heat Exchanger (ref. L/SURV/ONL/PV/SJ/2025-2026/3399)
- 26 February 2026: BSE surveillance query issued to Jindal Saw Ltd. (ref. L/SURV/ONL/PV/SG/2025-2026/940)
- 26 February 2026: Both companies filed their clarification responses with BSE
Impact Assessment
Minimal direct market impact. These are routine surveillance-driven disclosure filings that signal BSE’s monitoring of unusual price/volume activity. The companies’ responses do not reveal any new material information. Investors should note that BSE surveillance flags can sometimes precede enhanced monitoring measures (such as ASM/GSM frameworks), but no such action has been announced in this circular. Both stocks — Jindal Saw Ltd. and KRN Heat Exchanger and Refrigeration Ltd. — continue normal trading under existing conditions.
Impact Justification
Routine BSE surveillance-triggered clarifications from two companies; both confirm no undisclosed material information and attribute price/volume movements to market forces. No regulatory changes or compliance actions required for market participants.