Hero MotoCorp Limited has announced an updated Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. This revised code, effective from October 28, 2026, aims to ensure fair, uniform, and transparent disclosure of sensitive information and create information symmetry among stakeholders. The update aligns with SEBI regulations and details procedures for handling and disseminating price-sensitive data.
Hero MotoCorp Updates Fair Disclosure Practices
Hero MotoCorp Limited has issued an updated Code of Practices and Procedures of Fair Disclosure of Unpublished Price Sensitive Information. This revised policy, which became effective on October 28, 2026, has been framed to ensure fair, uniform, and transparent disclosure of unpublished price-sensitive information (UPSI), preserve its confidentiality, and create information symmetry among all stakeholders.
Key Objectives and Applicability
The primary objectives of the updated code are to ensure that UPSI is disseminated equitably and to prevent its misuse. This code applies to all Insiders who have access to UPSI related to the Company. The policy outlines specific procedures for the designation of a Chief Investor Relations Officer (CIRO) and the responsibilities of the Board of Directors in overseeing disclosure mechanisms.
Dissemination and Handling of UPSI
Under the revised code, prompt public disclosure of UPSI is mandated, impacting price discovery. Information will be disclosed to stock exchanges where shares are listed and concurrently published on the Company’s official website. The code strictly prohibits selective disclosure of UPSI and emphasizes uniform dissemination. In cases of inadvertent selective disclosure, the CIRO and Company Secretary & Compliance Officer must be notified immediately, with prompt action to make the information generally available within 24 hours.
Furthermore, the code specifies authorized spokespersons for communicating with media and investors, including the Executive Chairman, Chief Executive Officer, and Chief Financial Officer, among others. Employees are prohibited from communicating internal information without proper authority. The code also details guidelines for interactions with analysts and research personnel, ensuring only public information is shared and handling unanticipated questions appropriately.
Structured Digital Database and Silent Period
The Company will maintain a Structured Digital Database (SDD) containing the nature of UPSI and details of individuals with whom it is shared. The policy also reinforces the adoption of a “Silent Period”, commencing from the first day of any financial period until the earnings release. During this period, representatives of the Company will refrain from meeting with analysts or investors to discuss non-public information.
Review and Amendments
The Board of Directors is responsible for reviewing the Code and amending it as and when required, or at least once every three years. Any amendments or clarifications issued by regulatory authorities that are inconsistent with the Code will prevail.
Source: BSE
