The BSE has revised the circuit limits for shares of 549 companies including Kingfisher Airlines, L&T Finance Holdings, Uttam Galva Steels, as part of a surveillance action.
The revised circuit limits, which ensures that the price of a scrip cannot move upward or downward beyond the limit set for the day, would be effective from on Wednesday.
The exchange has increased the circuit filter limit for some stocks while it has been reduced for others. The move is the BSE’s surveillance measure taken to protect interest of investors.
BSE has raised the circuit limit for 66 firms, including Birla Pacific Medspa and East Coast Steel, to five per cent from the existing two per cent limit.
Also, it has widened the circuit limit of 169 companies including Kingfisher Airlines and United Breweries (Holdings), McDowell Holdings and D B Realty from five per cent to 10 per cent.
Besides, BSE has also increased circuit filter level for four firms such as Uttam Galva Steels and Manappuram Finance to 20 per cent from five per cent. It has also increased the limit of 139 companies like Mangalore Chemicals & Fertilisers and L&T Finance Holdings to 20 per cent from 10 per cent.
The exchange has, however, lowered the circuit filter for a total of 165 companies. BSE has narrowed the limit for six companies to two per cent from five per cent, reduced the filter level of 55 firms to five per cent from 10 per cent and also lowered the circuit limit for the remaining of 104 companies to 10 per cent from 20 per cent.
In a separate circular, NSE has set five per cent circuit limit for 243 companies, 10 per cent for 134 firms and 20 per cent for a total of 1,039 companies. However, there is a no price band for 162 firms.
Among the companies that would not not attract any circuit limit are Tata Chemicals, Tata Steel, Tata Power, TCS, Reliance Industries and Bharti Airtel.