Kanalytics, a media insights firm, has rolled out a specialised dashboard called ‘Krumour’ to assist listed entities in tracking and managing market rumours.
This move comes in response to the Securities and Exchange Board of India (SEBI)’s enhanced regulatory compliance measures, which require large listed firms to address market rumours promptly.
SEBI’s New Regulatory Framework
In May 2024, SEBI amended the Listing Obligations and Disclosure Requirements (LODR) rules, compelling large listed companies to confirm or deny any market rumour reported in mainstream media within 24 hours of its publication.
The aim is to protect retail investors, who are often adversely affected by the volatility caused by such rumours, particularly when stock prices fluctuate significantly.
New Compliance Guidelines for Top Listed Firms
As part of these new requirements, the top 100 listed entities began verifying market rumours from June 1, 2024. The scope of the rule will extend to an additional 150 companies (making up the top 250 listed entities) starting from December 1, 2024.
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These firms are now required to integrate technology-driven solutions and collaborate with external agencies to track and identify news, ensuring compliance with the new regulations.
Importance of Monitoring Market Rumours
Market analysts believe that continuously monitoring stock price movements is essential to determine if a material price movement (MPM) has occurred. This task, they say, must be carried out by professionals who are capable of scanning multiple mediums—including digital sources and global outlets—to stay on top of market sentiment and news.
Kanalytics’ Solution for Market Rumours
To address these challenges, Kanalytics has developed the ‘Krumour’ dashboard, a solution designed to assist listed companies in managing market rumours efficiently. The dashboard uses advanced algorithms to correlate live stock prices and send notifications to compliance teams when material price movements occur.
Krumour also curates news in real-time from a broad range of media outlets, enabling firms to react promptly to market developments.
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The dashboard’s unique feature is its ability to provide live insights from a wide array of media platforms, including print, television, websites, YouTube, X (formerly Twitter), Instagram, Facebook, and global news sources.
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