Intimation of fine(s) levied by Stock Exchanges

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IRFC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.5%Reaction day

₹99.21

prior close

₹99.24

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-1.5%-0.1% vs market

Financial Institution peers, median of 7sector-0.5%-1.0% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty 100 and 1.0 pts less than its Financial Institution peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.8

10m

+0.5

15m

+0.2

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.5-1.5-0.1-0.5-1.0

Next day

-3.0-2.3-0.7-2.3-0.7

-2.2-1.9-0.3-2.7+0.5

-3.5-2.3-1.2-2.7-0.8

-3.1-2.2-0.9-0.7-2.4

-2.9-2.3-0.6+1.3-4.1

-3.2-2.8-0.4+1.0-4.2

15d

+0.5+0.5+0.1+2.2-1.7

-8.6+0.0-8.6+1.0-9.6

-9.9+1.3-11.2-0.4-9.5

-16.0+1.1-17.1-5.6-10.4

UpDownMarket · Nifty 100Sector · Financial Institution peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

BSE and NSE have each levied a fine of Rs. 9,55,800 (inclusive of GST) on IRFC for non-compliance with SEBI (LODR) Regulations — specifically Regulation 17(1), 18(1), and 19(1)/19(2), which relate to board composition and constitution of Audit, Nomination and Remuneration committees for Q4 FY2026 (quarter ended 31 March 2026). The company claims it has no control over director appointments as it is a government enterprise where appointment power vests with the President of India via the Ministry of Railways. IRFC has previously had similar fines waived for the period March 2021 to December 2025 and has now requested both exchanges to waive the current fines as per the SEBI SOP Circular. The company states the fine has no quantified financial or operational impact.

Likely market impact

The fine is relatively small relative to IRFC's scale, but it signals ongoing governance gaps. The company has requested a waiver, similar to past instances, but any denial could marginally increase regulatory scrutiny on IRFC's corporate governance compliance.