Thursday, Jan 15, 2004
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MUMBAI, JAN. 14. In an effort to contain volatility in the market from bulk deals, the Securities and Exchange Board of India today asked the stock exchanges and brokers to disclose details about transactions in scrips where the quantum of shares involved in deals was more than 0.5 per cent of the company's equity shares listed on the bourses. The broking entities should provide details on deals in a scrip to stock exchanges where total quantity of shares (bought/sold) is more than 0.5 per cent of the number of equity shares of the company listed on the stock exchange, SEBI said in a notification. This step is being taken to impart transparency in the bulk deals and prevent rumours and speculation about such transactions, causing volatility in the scrip price, the regulator said. The brokers should disclose the scrip name, client name, quantity of shares bought/sold and the traded price to the stock exchange, SEBI said. The stock exchanges should disseminate this information to the public on the same day after market hours.
— PTI
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