BSE to shift 25 scrips, NSE to move 7 stocks to 'T' Group

New Delhi: Premiere bourses BSE and NSE have decided to move scrips of several companies to the restricted trading category from August 19 as a measure to safeguard the interest of the investors in the
bse to shift 25 scrips nse to move 7 stocks to t...
PTI 13 Aug 2013, 04:34 PM IST
New Delhi: Premiere bourses BSE and NSE have decided to move scrips of several companies to the restricted trading category from August 19 as a measure to safeguard the interest of the investors in the securities market.



BSE would transfer 25 stocks to the trade-for-trade segment or the ‘T' Group while NSE would transfer 7 scrips to this category, the bourses said in separate notifications.

Some of the firms which would be shifted to the segment on both the stock exchanges are Cura Technologies, Delta Magnets, Farmax India, Mukand Ltd, Southern Ispat and Energy, Nitesh Estates and JD Orgochem.

In the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

As per BSE and NSE, the move is part of the surveillance review “to ensure market safety and safeguard the interest of investors”.

The bourses have advised the trading members to take “adequate precaution” while trading in these scrips.

However, they added that “the transfer of security for trading and settlement on a trade-to-trade basis is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company”.

These securities would attract a circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.

Besides, NSE said that as many as 125 stocks including that of United Breweries (Holdings), Kingfisher Airlines, Reliance Broadcast Network and Reliance MediaWorks “will continue in trade-for-trade segment series”.
Related Tags: BSE
 
   
 

More from business