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Last Updated : Feb 06, 2015 01:47 PM IST | Source: PTI

BSE to shift 53 cos to restricted trade segment

Another leading bourse National Stock Exchange (NSE) would also move eight securities to this category from next week.

 
 
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Top stock exchange BSE has decided to shift stocks of 53 companies to the restricted trading segment from February 10 to ensure safety in capital markets and safeguard the interest of investors. Another leading bourse National Stock Exchange (NSE) would also move eight securities to this category from next week. Stocks that would be transferred on both the bourses include Era Infra Engineering, FCS Software Solutions, Intrasoft Technologies and Shri Lakshmi Cotsyn.


In two separate circulars, BSE and NSE said it would be shifting 53 scrips and stocks of eight companies, respectively to the trade-for-trade or the 'T' group segment. Under the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory. The decision is part of a surveillance review to ensure market safety and safeguard the interest of investors, the bourses said.


"Trading Members should note that transfer of scrips for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company," the bourses said. "Further, this is a temporary measure and will be reviewed periodically depending on market conditions," they added. Besides, BSE and NSE also issued a list of stocks that would continue in the trade-for-trade segment on their respective platforms.

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While BSE has identified 206 companies whose securities will remain under restricted category, NSE has listed nearly 80 companies.



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First Published on Feb 6, 2015 01:47 pm
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