In response to recent media reports, Rajesh Exports Limited has denied claims that the company is facing penalties due to delays in its battery plant project. The Bombay Stock Exchange (BSE) had sought clarification from the company following a news article published on March 3, 2025, in The Hindu Business Line, which mentioned that Reliance and Rajesh Exports were facing penalties for project delays.

BSE's Inquiry and Stock Price Movement

On March 3, 2025, Rajesh Exports' share price experienced a decline of 3.95%, falling from ₹159.30 to ₹153.00. Given this movement and the media report, BSE, as part of its surveillance measures, reached out to the company for clarification under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

BSE specifically asked Rajesh Exports to confirm:

• Whether any negotiations regarding penalties were taking place.

• Whether the company was aware of any undisclosed information that could explain the stock movement.

• If there were any regulatory or legal proceedings related to the alleged battery plant delays.

• The reasons for not disclosing such information earlier, if applicable.

Rajesh Exports’ Official Response

In a formal reply to BSE, Rajesh Exports' Company Secretary, Mr. Akash Bhandari, categorically denied the news. The response, sent via email on March 3, 2025, at 5:05 PM, stated:
"The news is incorrect."

With this clarification, Rajesh Exports has refuted all claims regarding penalties or delays related to its battery plant project. The company has not acknowledged any legal or regulatory actions and maintains that the news article is factually inaccurate.

Regulatory Compliance & Market Impact

As a publicly listed company, Rajesh Exports is required to disclose all material developments under SEBI’s Regulation 30. The prompt response to BSE indicates that the company is complying with disclosure norms and ensuring that investors are not misled by unverified reports.

Following this clarification, investors and stakeholders may closely monitor further statements from the company. The stock's recent price fluctuations could have been driven by speculative reactions to the media report rather than any actual financial or operational impact.

Media Responsibility & Misinformation Concerns

The incident highlights the significant impact of media reports on stock prices, especially when linked to regulatory or financial penalties. While Rajesh Exports has officially denied the allegations, such reports can still influence investor sentiment, leading to short-term volatility.

Companies often face the challenge of debunking false reports quickly to prevent unnecessary market panic. The stock exchanges play a critical role in ensuring that such rumors are verified at the earliest and that misinformation does not distort market activity.

Conclusion

With Rajesh Exports categorically denying the news about battery plant penalties, investors can be reassured that no such regulatory actions are in place. The company remains compliant with SEBI regulations and has swiftly clarified its position to the stock exchange.

Going forward, stakeholders will closely track any official updates from Rajesh Exports regarding its battery plant project progress and any potential impact on its financial and operational performance.

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