Sebi directs the top 100 listed firms to clarify market rumours from October 1

SEBI has asked the top 100 listed companies by market capitalization (size) effective October 1, 2023, to verify, confirm, deny, or clarify in case of any market rumours.

The decision taken by the Sebi board on Wednesday was to bring more transparency and to ensure timely disclosure of material events or information by listed entities.

Stricter timeline for disclosure of material events/information for which a decision has been taken in the meeting of the board of directors (within 30 minutes).

It directed SEBI to investigate whether there has been a violation of Section 19 of Sebi rules and any manipulation of stock prices.

We never comment on entity-specific matters and on top of that, the matter is before the Supreme Court. We will follow the advice of the Supreme Court.