Cos must 1st give price-sensitive info to bourses: Sebi
4 Jan 2013 5:37 AM IST
Listed companies will now have to necessarily disclose all price-sensitive information, including monthly sales figures, to bourses first, market regulator Sebi said on Thursday.
'...all the events or material information which will have a bearing on the performance / operations of the company as well as price sensitive information shall be first disseminated to the bourse as required under Clause 36 of the Listing Agreement,' Sebi said in a circular. The regulator said it has noticed certain listed companies giving monthly disclosure of their sales / turnover / production figures to their 'respective trade bodies' and the same is not disclosed to the bourses.
‘Price sensitive’ information includes any change in nature of business, disruptions due to natural calamity, commencement of commercial operations, developments arising out of change in regulatory framework, litigation or disputes having a material impact and revision in credit ratings.
Sebi also advised stock exchanges to take into account the requirements of the circular and bring the same to the notice of the listed companies.
As per clause 36 of the Agreement, listed firms must inform bourses of strikes, lock-outs, closure on account of power cuts and all events which can affect performance or prices.
'...all the events or material information which will have a bearing on the performance / operations of the company as well as price sensitive information shall be first disseminated to the bourse as required under Clause 36 of the Listing Agreement,' Sebi said in a circular. The regulator said it has noticed certain listed companies giving monthly disclosure of their sales / turnover / production figures to their 'respective trade bodies' and the same is not disclosed to the bourses.
‘Price sensitive’ information includes any change in nature of business, disruptions due to natural calamity, commencement of commercial operations, developments arising out of change in regulatory framework, litigation or disputes having a material impact and revision in credit ratings.
Sebi also advised stock exchanges to take into account the requirements of the circular and bring the same to the notice of the listed companies.
As per clause 36 of the Agreement, listed firms must inform bourses of strikes, lock-outs, closure on account of power cuts and all events which can affect performance or prices.
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