Bourses may shift 4 scrips to normal trading: Sebi
Quotes

Bourses may shift 4 scrips to normal trading: Sebi

Last Updated: Tuesday, March 5, 2013, 19:05
 
 Comment 0
 
Bourses may shift 4 scrips to normal trading: Sebi
Mumbai: Capital market regulator Sebi on Tuesday said the stock exchanges may consider shifting securities of four companies to normal trading category from the restricted segment.

Scrips which could now be shifted to Normal Rolling Settlement are -- The Cochin Malabar Estates And Industries, Wellesley Corporation, Pawansut Holdings and Comfort Fincap.

The regulator said the stock exchanges may consider shifting the scrips of these four 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 'Trade for trade' segment, is a restricted category, wherein, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

In a circular issued today, Sebi has advised the bourses to report to it the action taken in this regard in the monthly/quarterly development report.

The shifting is subject to condition that 50 per cent of non-promoter holdings in these companies should be in demat or electronic form, the regulator said.

"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 require 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 stock exchange, it added.

Besides, the securities could be shifted to the normal category if "there are no other grounds/reasons for continuation of the trading in TFTS".

PTI



First Published: Tuesday, March 5, 2013, 19:03


Comments


comments powered by Disqus
Hyundai 4S Fluidic Verna
Hyundai 4S Fluidic Verna
Top 5 anticipated luxury cars of 2015
Top 5 anticipated luxury cars of 2015
Top 5 anticipated smartphones of 2015
Top 5 anticipated smartphones of 2015
World Economic Forum 2015
World Economic Forum 2015
G20 Summit 2014
G20 Summit 2014

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