Starting today, India's top 100 listed companies must verify market rumor's within 24 hours

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This is a significant development in the Indian stock market that aims to increase transparency and combat market manipulation. Here's a breakdown of the new SEBI rule:

• Applies to: The top 100 listed companies by market capitalization (starting June 1st, 2024) and the top 250 (from December 1st, 2024 onwards).
• Requirement: These companies must respond to market rumors within 24 hours if reported in mainstream media.
• Type of Rumors: The response is required for rumors that are specific, material (could impact stock price), and not general in nature.

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This rule has potential benefits and drawbacks:

• Benefits: Reduces information asymmetry between companies and investors. Helps curb market manipulation based on false rumors. Increases market stability by providing timely clarification.
• Drawbacks: Companies might issue vague or non-committal statements. Frequent responses could overload investors with information. Potential for legal challenges over what constitutes a "material event."

Overall, this new rule is a step towards a more transparent and informed Indian stock market. It will be interesting to see how companies and investors react to this new

Indian Stock Market Rule Overview:-

* Applies to top 100 and top 250 listed companies.

* Requires companies to respond to market rumors within 24 hours if reported in mainstream media.

*Requires response for specific, material rumors impacting stock price.

Benefits: Reduces information asymmetry, curbs market manipulation, increases market stability.

* Step towards a more transparent and informed Indian stock market.

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