43 stocks moved to 'T' category on BSE
Mumbai: After a surveillance review, leading stock exchange BSE Monday identified as many as 43 stocks, including Orissa Sponge Iron And Steel, Welspun Global Brands for the restricted trade category.
In a circular BSE said these scrips would be transferred to trade-to-trade segment or "T" Group with effect from November 23, 2012
The move is part of the preventive surveillance measure taken by the bourse to ensure the market safety and to safeguard the interest of investors.
In 'trade?to?trade' segment no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.
The stocks would be included in "T" Group are-- Axis Capital Markets (India), BGIL Films & Technologies, Birla Capital & Financial Services, Mudra Lifestyle, Nagpur Power & Industries, Usha Martin Education & Solutions and T T Ltd.
"Trading members should note that the transfer of scrip?s for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company," the bourse said.
"Further, this is a temporary measure and will be periodically reviewed depending on the market conditions, it added.
Besides, these stocks attract a low circuit filter –the maximum permissible limit within which the share price can move – of up to five percent.