The Bombay Stock Exchange has decided to move securities of 56 companies, including Birla Capital & Financial Services and Essar Shipping, to the restricted trading category with effect from October 11.
Bharati Shipyard, Bil Energy Systems, Lotus Eye Care Hospital and Zenith Birla (India) are among other scrips which would be shifted by BSE to the trade-to-trade segment (‘T’ group category).
The measure is part of “preventive surveillance measure to ensure market safety and safeguard the interest of the investors’’, BSE said in a notice.
In the trade-to-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
BSE has asked the trading members to “take adequate precaution” while trading in these 56 stocks, “as the settlement will be done on a trade-to-trade basis and no netting off positions will be allowed’’.
However, the exchange said the transfer of these stocks to ‘T’ group “should not be construed as an adverse action against the company’’.
“Further, this is a temporary measure and will be periodically reviewed depending on the market conditions,” it added.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.