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Mkt rumour verification: Sebi issues new price framework
The New Indian Express
|May 22, 2024
AMID instances of market rumours resulting in steep movement in share prices, market watchdog Sebi on Tuesday issued a price discovery framework to determine price level for transactions in cases where a listed firm verifies a market rumour within a stipulated time.
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The regulator has come up with detailed norms for verifying market rumours that will be applicable for the top 100 listed companies from June 1.
Given this comes the new price discovery framework for considering "unaffected price for transactions upon confirmation of market rumour".
Generally, unaffected price refers to the share price of a company in case there is no market rumour. Since sharp price movements can impact the overall deal value, the regulator has proposed considering the unaffected price of a stock.
Under the listing norms, Sebi said the unaffected prices shall be considered for transactions on which pricing norms specified by it or stock exchanges are applicable.
This story is from the May 22, 2024 edition of The New Indian Express.
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