NSE and BSE to shift many stocks to trade-to-trade group from 21 June
19 Jun 2013 10:36 PM GMT
Leading stock exchanges NSE and BSE have decided to transfer stocks of several companies to the restricted trading segment with effect from 21 June, in a move to safeguard investor interests.
BSE would shift 28 stocks to the trade-to-trade or 'T' group, while NSE would transfer 12 scrips to this category, the bourses said in separate notifications. 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. The trade-for-trade segment does not allow speculative trading and makes delivery of shares and payment of consideration amount mandatory.
As per 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. 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'.
BSE would shift 28 stocks to the trade-to-trade or 'T' group, while NSE would transfer 12 scrips to this category, the bourses said in separate notifications. 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. The trade-for-trade segment does not allow speculative trading and makes delivery of shares and payment of consideration amount mandatory.
As per 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. 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'.
Next Story
