BSE to shift 20 scrips to trade-to-trade segment
Mumbai: Leading bourse BSE Monday said it would shift 20 scrips to the restricted trading category with effect from March 15 in a measure to ensure market safety.
The scrips, which would be shifted to the trade-to-trade segment include, UB Engineering, Zenith Birla (India) Ltd, Denso India and ABL Bio-Technologies.
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, BSE said in a notice.
"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.
"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 5 percent.