The behavior of stock market has always attracted the attention of researchers in the field of finance and related areas. The question "What drives/ affects the stock prices?" has caused diverse views and opinions among researchers. This Book contributes to the enormous literature available on the EMH (Efficient Market Hypothesis) especially in the Indian context. The Book will provide an insight into the role of information and discounting of the same in Indian stock market. The information variable is derived from front page news of Economic Times (Leading Indian Financial Daily). The study also deals with the question that whether the Indian stock market is influenced by firm characteristics like size, earning to price ratio and book to market equity ratio. This book will be helpful to Investment Communities, Policy Makers, Security Analysts, Stock Exchanges and Regulatory Authorities. The investors will be able to understand the behavior of Indian stock market and how they react to news stories. It will also help policy makers in taking certain policy decisions which directly or indirectly affect the overall working of the capital market.