India's top 100 listed companies must verify market rumours in 24 hours
top 100 listed companies by market capitalisation will have to confirm or deny any market rumour reported in the mainstream media from this Saturday. The rule will be applicable for top 250 companies from December 1.
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Under the Sebi's rule, these companies will have to 'confirm, deny, or clarify any reported event or information in the mainstream media that is not general in nature and that indicates that rumours of an impending specific material event' are circulating amongst the investing public within 24 hours from the reporting of the information.
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Offering CollegeCourseWebsiteUniversity of Western AustraliaUWA Global MBAVisitIIM LucknowChief Executive Officer ProgrammeVisitIndian School of BusinessISB Leadership in AIVisitSebi through its newly introduced rumour verification framework has excluded the price volatility in arriving at average market price for the purpose of corporate actions in a bid to make it fair for all investors at large.
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«The move would dissuade leaking of information that would affect the valuation in the given corporation action. This initiative of Sebi would help strengthen the rumour verification framework. It would help in achieving a fair market thereby making it a preferred market for investors all over the world,» Makarand M Joshi, founder, MMJC and Associates, a corporate compliance firm, said.
While calculating the price for various corporate actions such
