LIC to Tata Steel listed firms step up rumour verification disclosures

Following the implementation of rumour verification regulations by the market regulator, several listed companies, including Life Insurance Corporation of India (LIC), Tata Steel, Bajaj Finance, and Saurashtra Cement, have issued clarifications on media reports in the last two weeks. \r

Effective from June 1 for the top 100 listed firms, these norms require companies to verify, deny, or clarify news reports causing significant share price movements. Bajaj Finance confirmed plans for a Bajaj Housing Finance public offer, while LIC clarified it had not proposed entering the health insurance market "through" a private health insurer. \r

Exchanges are extending this practice to companies beyond the top 100 for reports driving trading volumes.