BSE brings 109 firms under enhanced surveillance

People look at a screen displaying India's Finance Minister Arun Jaitley presenting the budget, on a facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, February 29, 2016. The government unveiled a budget for the poor on Monday, announcing new rural aid schemes and skimping on a bank bailout, in a strategy shift that seeks to boost Prime Minister Narendra Modi's ruling party in coming state elections. REUTERS/Danish Siddiqui - D1AESPUAELAB

Leading stock exchange BSE today decided to bring 109 companies, including Reliance Naval and Engineering, Amtek Auto, GVK Power & Infrastructure under enhanced surveillance measures. "...100 percent margins shall be applicable with effect from June 6, 2018 on all open positions as on June 5, 2018 and new positions created from June 6, 2018 onwards," the exchange said in a circular.

The move is mainly aimed at checking any abnormal rise in stock prices that is not commensurate with the financial health of companies.

Among the 109 companies put under the ASM (Additional Surveillance Measure) framework are -- HEG Ltd, Bombay Dyeing & Manufacturing Company, Dilip Buildcon, GTL Infrastructure, Indiabulls Ventures, Jaypee Infratech, Radio Khaitan and Rain Industries.

According to BSE, ASM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the exchange from time to time.

Also, the exchange said," shortlisting of securities under ASM Framework is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company/entity".