BSE to shift 25 stocks, NSE 1 scrip, to 'T' group

Leading stock exchange BSE will move securities of 25 companies to the restricted trading segment from next week for failure to convert mandatory 50 percent public shareholding into dematerialised format.

Besides, NSE will also shift the scrip of one company, Ranklin Solutions, to the restricted trading category, for not meeting the demat criteria. The stocks would be transferred to the trade-for-trade segment or 'T' group with effect from February 24, NSE and BSE said in separate notifications.

Some of the scrips which would be moved to 'T' Group on the BSE are - First Leasing Company of India, Ranklin Solutions, Exelon Infrastructure, Ennore Coke and Magnum Ltd. As per Sebi guidelines, shares of listed companies which have not achieved at least 50 percent of their public holding in dematerialised (demat) or electronic form would have to trade in the 'T' Group category.

In the trade-for-trade category, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory. According to BSE, the 25 companies had not achieved 50 percent public holding in demat form as per the shareholding pattern submitted by them for the December quarter 2013 or have not submitted the shareholding pattern or given incorrect details on the same.