Kanalytics, a media firm, has introduced a dedicated dashboard named "Krumour" to assist organizations in monitoring and managing market rumors.
This initiative is a response to the Securities and Exchange Board of India (SEBI) to enhance compliance measures, necessitating that major listed companies promptly address market rumors.
In May 2024, SEBI revised its regulations regarding rating obligations and disclosure requirements, mandating that large firms confirm or deny any market rumors reported by traditional media within 24 hours of publication. The aim is to safeguard retail investors who are often impacted by fluctuations caused by such rumors, especially when stock prices vary significantly.
Starting June 1, 2024, the initial 100 listed entities began monitoring market rumors. The requirement will be extended to an additional 150 companies (encompassing the first 250 listed entities) by December 1, 2024. These companies must now adopt technology-driven solutions and partner with external agencies to track and identify news, ensuring compliance with the new regulations.
Market analysts emphasize the importance of ongoing scrutiny of stock movements to ascertain whether material price movements have occurred. This task should be handled by professionals adept at scanning numerous sources, from digital platforms to traditional points of sale, to stay updated on market sentiment and news.
To address these challenges, Kanalytics has developed the “Krumour” dashboard, which assists listed companies in effectively managing rumors. The dashboard utilizes advanced algorithms to correlate live stock prices and notify compliance teams when price changes occur. Krumour organizes real-time news from diverse media, enabling businesses to respond promptly to market events.
A key feature of the dashboard is its capacity to provide live information across various platforms, including print, TV, websites, YouTube, X (formerly Twitter), Instagram, Facebook, and global news sources. Additionally, it maintains expansive archives, allowing companies to track historical triggers of material price movements, which can inform future strategies.
Ashutosh, CEO of Kanalytics, emphasized the specialized nature of the Krumour platform, stating that it requires a deep understanding of the field to empower compliance teams. He mentioned that Kanalytics is unique in its ability to monitor and analyze data across all multimedia platforms and languages, even employing Mandarin specialists to track trends in China, the world’s second-largest market. The company’s ambition is to be the primary source for research on news data across various platforms, languages, and countries to meet clients’ marketing, reputation, and strategic needs.
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(Includes contributions from PTI)