BSE, NSE to shift scrips to restricted trade from Jan 3

Written By Unknown on Senin, 30 Desember 2013 | 23.08

Leading stock exchanges BSE and NSE will transfer stocks of several companies, including  Welspun Projects and Orchid Chemicals & Pharmaceuticals , to the
restricted trade category from January 3. The move is part of a surveillance review to safeguard interest of investors in the capital market.

The BSE would shift 68 securities to the trade-for-trade or 'T' group, while NSE would transfer 34 stocks to this segment, the two stock exchanges said in separate circulars today.

Among other stocks which would be shifted to the 'T' Group segment on both the bourses included Servalakshmi Paper ,  Pradip Overseas and  A2Z Maintenance & Engineering Services.

These scrips would be shifted to the trade-for-trade segment with effect from January 3.

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

The stock 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 will be allowed".

However, they added 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.



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