BSE and NSE to shift 39 scrips to the restricted category
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BSE and NSE to shift 39 scrips to the restricted category

Last Updated: Tuesday, April 23, 2013, 16:29
 
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BSE and NSE to shift 39 scrips to the restricted category
Mumbai: Country's leading bourses BSE and NSE have identified 39 scrips to be shifted to the restricted trading category with effect from April 29, as a part of a surveillance review.

While BSE would shift 32 stocks to the trade-to-trade or 'T' group, NSE would transfer seven scrips to this category, the exchanges said in separate notifications.

The scrips which would be shifted to the 'T' Group on both the bourses include Nath Seeds, Nicco Corporation, OCL Iron and Steel, Resurgere Mines & Minerals, Samtel Color, Shree Ganesh Forgings and SPL Industries.

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

The move is part of the preventive surveillance measure to ensure the market safety and to safeguard the interest of investors, the bourses said.

The exchanges have advised the trading members to take "adequate precaution" while trading in these scrips as the "settlement will be done on trade-to-trade basis and no netting off positions will be allowed".

However, they said "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 company".

Besides, these stocks attract a circuit filter of up to 5 percent, which is the the maximum permissible limit within which the share price can move.

PTI



First Published: Tuesday, April 23, 2013, 16:29


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