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BSE, NSE to shift more stocks to restricted category from June 21

BSE, NSE to shift more stocks to restricted category from June 21

BSE would shift 28 stocks to the trade-to-trade or 'T' group, while NSE would transfer 12 scrips to this category.

PHOTO: Reuters PHOTO: Reuters
The Bombay Stock Exchange and National Stock Exchange, in a move to safeguard investor interests, will transfer stocks of several companies to the restricted trading segment with effect from June 21.

BSE would shift 28 stocks to the trade-to-trade or 'T' group, while NSE would transfer 12 scrips to this category.

The trade-for-trade segment does not allow speculative trading and makes delivery of shares and payment of consideration amount mandatory.

According to separate notifications from BSE and NSE, the move is part of the surveillance review "to ensure market safety and safeguard the interest of investors".

The bourses have advised the trading members to take "adequate precaution" while trading in these scrips.

Some securities which would be shifted to the 'T' Group category on both the bourses are - Paramount Communications, Best & Crompton Engineering, Mahindra Ugine Steel Company, Centum Electronics and Pioneer Distilleries.

However, the bourses 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 concerned company".

These stocks would attract a circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.

Meanwhile, as many as 56 stocks have been listed by NSE which "will continue in trade for trade segment series".

Almondz Global Securities, Sun Pharma Advanced Research Company, Denso India and Uniply Industries are among the stocks which would be available for trading in trade for trade segment in this bourse.

With inputs from PTI