Jindal Saw Ltd has issued a clarification to BSE Limited regarding the significant increase in trading volume of its equity shares, responding to the exchange's inquiry dated 26.02.2026. The company addressed concerns about unusual market activity while maintaining transparency about its operations and compliance with regulatory requirements.

Company's Response to BSE Inquiry

In its official communication, Jindal Saw Ltd provided a comprehensive response to BSE's letter reference no: L/SURV/ONL/PV/SG/ 2025-2026 / 940. The company's clarification covered three key aspects of the trading volume increase:

Key Clarifications Provided

The company emphasized its consistent approach to information disclosure and regulatory compliance. Jindal Saw Ltd stated that it has been regularly disseminating all material information, events, and announcements that may have a bearing on the company's operations and performance to the stock exchanges.

No Undisclosed Information

The steel pipe manufacturer categorically stated that there is no undisclosed price-sensitive information or material event which may have a bearing on the price or volume behavior of the company's shares. This clarification directly addresses potential market concerns about insider information or undisclosed developments.

Market-Driven Movement

Jindal Saw Ltd attributed the significant increase in trading volume to market-driven factors rather than any specific corporate action or undisclosed information. The company suggested that the volume movement could be attributed to normal market dynamics and investor sentiment.

Regulatory Compliance Commitment

The company reiterated its commitment to transparency and compliance with regulatory requirements. Jindal Saw Ltd assured that it will continue to promptly inform the stock exchanges of any material information as required under applicable regulations. The clarification was signed by Company Secretary Sunil K. Jain, emphasizing the official nature of the response and the company's adherence to proper corporate governance procedures.

Jindal saw Limited has disclosed to stock exchanges that its American Petroleum Institute (API) license for seamless pipes has been suspended following the identification of non-conformances during a recent API audit. The suspension letter issued by API restricts the company from affixing API monogram on its API seamless pipes.

License Suspension Details

The regulatory action stems from certain non-conformances observed during the API audit process. The company has provided detailed information about the suspension through a structured disclosure to comply with SEBI listing regulations.

Company's Response and Impact Assessment

Jindal Saw Limited has indicated that it is actively responding to API and implementing appropriate corrective measures to address the identified non-conformances. The company has committed to updating stock exchanges on any material developments as they occur.

Regarding the business impact, the company has stated that the seamless pipe manufacturing capacity is fungible in nature. To mitigate the immediate effects of the suspension, Jindal Saw has reallocated this manufacturing capacity to produce other products.

Operational Adjustments

The company's management has emphasized that the impact of the suspension may not be material due to several factors:

• The seamless pipe manufacturing capacity can be utilized for other product lines
• Capacity has been allocated to alternative products during the suspension period
• The fungible nature of manufacturing operations provides operational flexibility

Regulatory Compliance and Next Steps

The disclosure was made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparency with stakeholders. Jindal Saw has assured that it will take suitable steps to comply with API requirements and work toward resolving the non-conformances that led to the suspension.

The company will continue to engage with API authorities to address the identified issues and work toward the revocation of the suspension. Updates on material developments related to this matter will be communicated to stock exchanges as they become available.