Nature of Query:
The company received communications from both BSE (Ref no. L/SURV/ONL/PV/SJ/2026-2027/4182 dated 27th August 2026) and NSE (Ref. No.: NSE/CM/Surveillance/17421 dated 27th August 2026) regarding significant movement observed in the price of the company's security across exchanges in the recent past.
Company Response / Clarification:
The company affirmed that it has been and continues to be in full compliance with disclosure requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company specifically addressed a news article published in the online edition of Gujarat Samachar on August 24, 2026, which reported that Ahmedabad Municipal Corporation (AMC) awarded a contract valued at approximately ₹240 crore to the company for a comprehensive 3D GIS survey/mapping project for Ahmedabad city.
The company clarified that as of the date and time of this clarification (August 28, 2026), it has not received any formal communication from Ahmedabad Municipal Corporation confirming the award of this contract. Consequently, no disclosure regarding award/receipt of this contract has been made under Regulation 30 of SEBI Listing Regulations. The company explicitly stated that the news article was not issued, published, authorized, or caused to be published by the company, and no announcements to media or public have been made regarding this contract award.
Regulatory Reference / Compliance:
The company explicitly references Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations). The company affirms compliance with all disclosure requirements under these regulations and confirms there are no undisclosed material events, information, or impending announcements that require disclosure under Regulation 30 that might affect price/volume behavior of the company's securities.
Analyst Perspective / Material Implications:
The clarification addresses potential market speculation arising from the media report about a significant ₹240 crore municipal contract. The company's statement that no formal award has been received yet indicates that the reported contract cannot be considered confirmed or material until formal documentation is received. This clarification aims to prevent unwarranted speculation and maintain market integrity regarding the company's business developments.