Sebi moderates approach in market rumour verification for listed firms

A direct, price-based trigger for verifying market rumours rather than asking for responses on events will address some of the issues of subjectivity

• “The Exchange has sought clarification from Bharat Heavy Electricals Limited with respect to recent news item captioned ‘BHEL surges 6 per cent on buzz of winning Rs 19,422 crore order from NLC India’. The response from the Company is attached.”

• “The Exchange has sought clarification from Vodafone Idea Limited with respect to recent news item captioned ‘Elon's Starlink tie-up talks in market pumps Vodafone Idea to the skies in India’.”

These notices are typical examples from the “Market Rumours” section of the NSE website (nseindia.com). They illustrate the way the market rumour verification system works in practice, even though