BSE to move 15 stocks; NSE to move 6 scrips to 'T' Group

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Leading stock exchanges BSE and NSE have decided to transfer scrips of various companies to the restricted trading segment from March 14.

While BSE will transfer 15 stocks to the trade-for-trade category or 'T' Group, the National Stock Exchange (NSE) will shift six securities to the segment, the bourses said in separate notifications today. Six stocks which will be shifted to the restricted category on both the exchanges include - Excel Infoways, ICSA (India), Omnitech Infosolutions, Paramount Printpackaging, Prime Securities and Tulip Telecom.

Also Read: Rupee edges up as shares gain

BSE will also move Mahindra Composites to trade-for-trade segment wherein only delivery-based transactions are allowed and traders cannot take intra-day positions. According to BSE and NSE, the move is part of a surveillance review and to ensure market safety as well as safeguard the interest of investors.

The exchanges have asked its members "to take adequate precaution" while trading in these stocks. However, they said that the move "is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company". These stocks would attract a circuit filter of up to 5 percent which would be the maximum permissible limit within which the share price can move.

Besides, NSE said as many as 130 securities Bharati Shipyard, Khaitan Electricals, Birla Ericsson Optical, will continue to trade under 'T' Group category on its platform.