BSE revises circuit limit for 544 stocks, 153 stocks see the filter increased to 20% from 10%

The BSE has revised circuit limit for a total of 544 stocks, including 263 stocks where the circuit limit has been increased to 10 percent from 5 percent earlier.

"As a part of the review of the surveillance action, the price band are revised in the various scrips," said the exchange in its circular note on June 4.

The revised price band will be effective from June 7, 2021, the exchange added.

For seven stocks - Jindal Poly Films, Morepen Laboratories, Dharamsi Morarji Chemical Company, Shri Jagdamba Polymers, Hikal, Adani Power, and Angel Broking - the circuit limit has been revised from 5 percent to 20 percent.

Meanwhile, circuit filter has been increased to 20 percent from 10 percent earlier for 153 stocks including Bajaj Electricals, HFCL, Bliss GVS Pharma, HEG, Hindustan Copper, Igarashi Motors India, Linde India, Aarey Drugs, JK Tyre, Dwarikesh Sugar Industries, Aurionpro Solutions, Central Bank of India, Coromandel Engineering, Punjab & Sind Bank, KPI Global Infrastructure, Aarti Surfactants, Deep Industries and Century Plyboards.

The function of on-line surveillance is to monitor the market activity and undertake necessary surveillance actions inter-alia including price band monitoring and review, transferring securities on a trade-to-trade settlement basis, imposition of surveillance frameworks.

Exchange implements two types of price bands for stocks.

One, securities on which derivative products are available have dynamic price bands wherein the initial threshold of 10 percent on the previous closing price is applied, said the BSE.

Second, Securities which do not have derivative products. These have fixed price bands which are based on the previous closing price of the respective stocks. The maximum price band prescribed is 20 percent. Exchanges revise the price bands 10 percent, 5 percent and 2 percent as a Surveillance action," the exchange added.

The BSE increased circuit filter from 5 percent to 10 percent for 263 stocks including Andhra Petrochemicals, Ansal Properties & Infrastructure, IFCI, HCL Infosystems, Zuari Global, Sintex Industries, Punjab Alkalies, Goa Carbon, Vakrangee, Aban Offshore, Future Enterprises, Orchid Pharma, Premier Explosives, Bilcare, Nila Infrastructures, Panacea Biotec, Shree Renuka Sugars, Autoline Industries, Edelweiss Financial Services, Ramky Infrastructure, Majesco, Satin Creditcare Network, and Future Retail.

The exchange also revised circuit limit from 2 percent to 5 percent for 99 stocks, whereas the circuit limit for 3 stocks has been revised from 5 percent to 2 percent.

The circuit filter for 11 stocks has been reduced to 5 percent from 10 percent earlier, including PNB Housing Finance, 7NR Retail, 5paisa Capital, and Suzlon Energy.

The BSE reduced circuit filter from 20 percent to 10 percent for 7 stocks, and one stock - KIFS Financial Services - saw the revision in circuit limit to 5 percent from 20 percent.

The circuit filters are reduced in case of illquid Securities or as a price containment measures. The circuit filters are reduced to 10 percent or 5 percent or 2 percent as the case may be, based on the criteria decided by the Surveillance Department.

The scrips in Trade for trade segments will continue to attract a price band of 5% or lower, as applicable.