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Financial Results through XBRL mode mandatory on BSE

By Lohit B | 4/13/2017 10:59 AM Thursday

With effect from April 1, BSE has mandated all listed entities would be required to make their filings in respect of Financial Results (Regulation 33 and Regulation 52) in XBRL mode within 24 hours of submission of results in PDF mode.

The bourse became the first stock exchange in India to introduce and implement XBRL based reporting in association with its partner in this endeavour, Microvista Technologies. BSE has provided a tool to all listed companies to convert excel files into XBRL files, free of cost, and has also enabled companies to directly generate XBRL files from its website.

The companies would therefore need to file their financial results in pdf format through the newly launched CAFS system, and follow this up with the XBRL filing within a maximum of 24 hours of submission of results through the CAFS mode.

 All files to be uploaded on BSE will be in the format of XBRL. BSE has adopted practices followed by the elite group of global exchanges in countries like the USA and UK.  The XBRL would be adopting global reporting standards that would make reporting easier, faster and more accurate.

 

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Chennai Petroleum reaches near trendline resistance

Vinayak Gangule / Article rating: 5.0

Chennai Petroleum Limited reached near its downward sloping trendline formed by connecting highs from January 2018, on the weekly time frame. This coincides by the stock's long-term moving average, i.e. 200-week exponential moving average, which is currently placed at 283.20 level. After registering its 52-week low, the stock is trading in a range for the last nine weeks along with low volumes, which indicates it is just a pull-back and the original downtrend is likely to resume soon.

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Overall volumes in futures & options currently stand at 62.75 lakh contracts with a turnover of Rs. 5,19,204.72 crore.