Millennium Post

BSE to move 83 stocks, NSE 17 to restricted group

Premier stock exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Wednesday decided to shift securities of several companies to the restricted trading segment from 10 October to ensure safety of investors in the capital markets.

BSE said it would be shifting as many as 83 scrips to the trade-for-trade or the 'T' group segment, while the National Stock Exchange (NSE) has decided to move 17 stocks to this category, the bourses said in separate notices.

The stocks to be moved to the the 'T' group on both the bourses include that of Indiabulls Power Ltd, Nicco Corporation, Cyber Media (India) Ltd, Surana Industries, GI Engineering Solutions Ltd and Electrotherm (India) Ltd.

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

The move is part of surveillance review and with a view to ensure market safety and safeguard the interest of investors, the exchanges said. ‘Members are requested to take adequate precaution while trading in the above securities as the settlement will be done on trade-to-trade basis and no netting off will be allowed,’ they added.

Further, it said 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’.

Next Story
Share it