NSE to shift 11 scrips to restricted trade segment from Aug
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NSE to shift 11 scrips to restricted trade segment from Aug

Last Updated: Monday, July 29, 2013, 23:20
 
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NSE to shift 11 scrips to restricted trade segment from Aug
Mumbai: Leading bourse National Stock Exchange (NSE) Monday decided to shift securities of as many as 11 firms, including Nitco and Amar Remedies, to the restricted trading category from next month, in a move aimed at safeguarding investor interest.

The exchange would shift 11 stocks to the trade-to-trade or 'T' group with effect from August 2, while atleast another 100 stocks including Kingfisher Airlines, United Breweries (Holdings) Ltd, Reliance Broadcast Network Ltd and Reliance MediaWorks Ltd would continue to be part of the segment.

Among other securities which would be shifted to the 'T' Group category on the bourse are Four Soft, Neha International, Parabolic Drugs and Surana Ventures, NSE said in a circular.

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

As per the bourse, the move is part of the "surveillance review and with a view to ensure market safety and safeguard the interest of investors".

The stock exchange has 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 will be allowed".

However, it said the transfer of these securities 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 concerned company".

These stocks would attract a price band of 5 percent which would be the maximum permissible limit within which the share price can move.

PTI


First Published: Monday, July 29, 2013, 23:20


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