The Hindu Business Line : Brokers told to disclose details of bulk deals

IN order to prevent speculation on bulk deals in the market, the Securities and Exchange Board of India (SEBI) has decided to make the disclosure of such deals mandatory.

SEBI in a notice to the stock exchanges on Wednesday said the disclosure shall be made with respect to all transactions in a scrip where total quantity of shares bought or sold is more than 0.5 per cent of the number of equity shares of the company listed on the stock exchange.

Brokers have to disclose to the exchange the name of the scrip, name of the client, quantity of shares bought or sold and the traded price immediately upon execution of the trade.

This, in turn, has to be disseminated by the stock exchanges on the same day after market hours to the general public.

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