Top 100 Companies To Verify Market Rumours Promptly Starting Today
NDTV
SEBI 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.
The top 100 listed companies by market capitalization will have to confirm or deny any market rumour reported in the mainstream media from today.
The rule will be applicable for top 250 companies from December 1.
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.
