Mumbai: After a surveillance review, the two bourses, BSE and NSE, have identified various scrips including SKS Microfinance and Reliance Broadcast Network for restricted trade category.
BSE would shift 74 stocks to the trade-to-trade segment, while NSE would transfer 27 scrips to this category, the exchanges have said separately.
These changes would be effective from August 31, 2012.
Scrips like SKS Microfinance, Reliance Broadcast Network and Fame India would shift in the "T" group on both the exchanges.
In 'trade-to-trade' segment no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.
The move is part of the preventive surveillance measure taken by bourses to ensure the market safety and to safeguard the interest of investors. Also, the exchanges have advised exercise of caution while trading in these stocks.
In addition, BSE said 342 stocks would continue to trade in the "T" group. It also said nine scrips, which have been trading in the "Z" group, for not complying with the various clauses of listing agreement, are eligible for the restrictive trade category.
"Further, as and when the review of "Z" group is taken up by the exchange and if any of such scrips qualify to be excluded from "Z" group then such scrips shall be transferred to "T" group," BSE said.
The exchanges have classified equity scrips into various categories on the basis of several factors such as market capitalisation, trading volumes and numbers, track records, profits, dividends, shareholding patterns, and some qualitative aspects.
BSE said it would move 298 stocks, including Zee News, Welspun Projects, Welspun Global Brands, which are trading in the "T" group, to their respective original categories, while NSE would shifted back 95 stocks from trade for trade category to their original segment.
Piramal Life Sciences, SMS Pharmaceuticals, Koutons Retail India and 3i Infotech are among the 41 stocks that would continue to trade under restrictive trade segment on the NSE.
The stocks in "T" group category attract a low circuit filter -- the maximum permissible limit within which the share price can move -- of up to 5 percent.
"It may also be noted that 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 concerned company," NSE said.