JSW Holdings Confirms There is No Undisclosed Material Information Behind Surge in Trading Volume

According to JSW Holdings Ltd., there is no undisclosed material information or event behind the sudden surge in trading volume of its shares, as requested for clarification by National Stock Exchange of India (NSE). 

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In its regulatory announcement released on October 1, JSW Holdings confirmed that there was no material information or event related to its operations or performance that needed to be disclosed as per the regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. 

This clarification was provided following the request made by NSE to JSW Holdings on September 30 for the clarification on the sudden surge in trading volume of its shares. 

JSW Holdings Calls Volume Movement Market-Driven 

Addressing the exchange’s query, JSW Holdings said the movement in trading volumes was driven by the market and was not something the company or its management could control. 

The company also made it clear that its management was not aware of any specific reason behind the change in volumes. 

“The movement in the trading volume of shares is purely market-driven,” JSW Holdings said in its response, adding that the company and its management had no knowledge of any particular reason for the movement. 

The clarification effectively rules out, as of the date of the filing, any undisclosed company-specific development that JSW Holdings considers material enough to require disclosure under the applicable listing regulations. 

Response Follows NSE Query 

The NSE had sought the clarification through a letter dated September 30, bearing reference number NSE/CM/Surveillance/17644. 

JSW Holdings submitted its response to both the National Stock Exchange and BSE on October 1. The company’s shares trade under the symbol JSWHL on the NSE and scrip code 532642 on the BSE. 

Company Secretary and Compliance Officer Akshat Chechani signed the clarification on behalf of JSW Holdings. 

For now, the company has attributed the higher trading activity in its shares to market forces, while stating that there is no material information or event requiring an additional disclosure as of October 1.