Bourses may consider shifting 23 scrips to normal trading: SEBI
Quotes

Bourses may consider shifting 23 scrips to normal trading: SEBI

Last Updated: Saturday, November 03, 2012, 00:05
 
 Comment 0
 
Bourses may consider shifting 23 scrips to normal trading: SEBI
Mumbai: Market regulator SEBI Friday said the stock exchanges may consider shifting securities of 23 companies from restricted trade category to normal trading.

The scrips which could now be shifted from "T" category include Hindustan Foods, Prima Agro and Prima Industries.

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

In addition, SEBI advised the stock exchanges to report the regulator about the action taken in this regard in the monthly/quarterly report.

The Securities and Exchanges Board of India (SEBI) said the stock exchanges may consider to shift the scrips of these (23) companies from the Trade for Trade Settlement (TFTS) to a normal Rolling Settlement as these firms have established connectivity with both depositories - NSDL and CDSL.

The shifting is subject that 50 percent of non-promoter holdings in these companies should be in demat or electronic form.

"The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following: at least 50 percent of other than promoter holdings are in dematerialised mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement," SEBI said.

For this purpose, the listed companies are required to obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange, the regulator said.

In case, an issuer company does not have a separate RTA, it may obtain a certificate in this regard from a practising company Secretary/Chartered Accountant and submit the same to the bourse, it added.

"There are no other grounds/reasons for continuation of the trading in TFTS," SEBI said.

PTI


First Published: Saturday, November 03, 2012, 00:05


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved