Companies must give sales data to stock exchanges first: Sebi
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The capital market regulator has made it mandatory for companies to disclose monthly sales, turnover or production figures first to stock exchangesbefore giving the data to industry associations or the media.
"It has been brought to our notice that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not disclosed to the stock exchanges," said a Sebi circular.
Clause 36 of the Listing Agreement says that the issuer will intimate to the Stock Exchanges, where the company is listed, immediately of all events which will have a bearing on the performance/operations of the company as well as price sensitive information. Sebi has advised stock exchanges to take into account the requirements of this circular and to bring the same to the notice of the listed companies.
"It is therefore, reiterated that 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 stock exchanges as required under Clause 36 of the Listing Agreement," the circular added. (ET)
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