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Feb 14, 2017, 02.10 PM | Source: PTI

BSE, NSE to move 47 companies to restricted trade segment

BSE will shift scrips of 34 firms to the trade-to-trade or the 'T' or 'XT' group segment, while the National Stock Exchange has decided to move 13 stocks, the bourses said in separate notices.

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BSE, NSE to move 47 companies to restricted trade segment

BSE will shift scrips of 34 firms to the trade-to-trade or the 'T' or 'XT' group segment, while the National Stock Exchange has decided to move 13 stocks, the bourses said in separate notices.

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BSE, NSE to move 47 companies to restricted trade segment
Leading stock exchanges BSE and NSE will shift 47 companies to the restricted trading segment from Thursday as a safeguard for investors.

BSE will shift scrips of 34 firms to the trade-to-trade or the 'T' or 'XT' group segment, while the National Stock Exchange has decided to move 13 stocks, the bourses said in separate notices.

The stocks to be moved to the 'T' group on both the bourses include Andhra Cements, Cinevista, FCS Software Solutions, GI Engineering Solutions, Manaksia Aluminium Company, Paramount Communications, Tarapur Transformers and Orbit Corporation.

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

The move is a part of surveillance review with a view to ensure market safety and safeguard the interest of investors, the exchanges said.

The two exchanges have asked trading members "to take adequate precaution" while trading in these scrips as "the settlement will be done on trade-to-trade basis and no netting off will be allowed".

Further, they 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".

These stocks will be in the price band of 5 percent, the maximum permissible limit within which they can move.

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BSE, NSE to move 47 companies to restricted trade segment

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