BSE, NSE to shift 30 companies to restricted trading segment

Stock exchanges BSE and NSE will shift stocks of 23 firms to the restricted trading category from September 1 for not complying with listing rules relating to corporate governance and shareholding disclosures.

In addition, BSE will shift seven companies to the restricted segment from August 26.

The action follows non-compliance of norms by listed companies for two consecutive quarters. The move is part of the surveillance review to ensure market safety and safeguard interest of investors.

As for a break-up of categories, BSE will be shifting a total of 30 scrips to the trade-to-trade or 'Z' group segment.

Of these 30, the National Stock Exchange (NSE) has decided to move 11 common stocks to the 'BZ' category, the bourses said in separate notices.

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

The 'Z' group includes companies that have failed to comply with the listing requirements or not resolved investor complaints or not made required arrangements with the depositories - CDSL and NSDL - for dematerialisation of their securities.

The stocks to be moved to the restricted segment on both the bourses include Acropetal Technologies, Broadcast Initiatives, Entegra, Lumax Automotive Systems, Spectacle Ventures and Paramount Printpackaging.