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BSE to shift 91 cos to restricted trade; NSE to move 24

The National Stock Exchange (NSE) will also move 24 securities to this category. Stocks that would be transferred on both the bourses include Cambridge Technology Enterprises, Nissan Copper, Raj Oil Mills and Ramsarup Industries.

August 07, 2015 / 14:51 IST
     
     
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    Top stock exchange BSE has decided to shift stocks of 91 companies to the restricted trading segment from August 11 to ensure safety in capital markets and safeguard the interest of investors. The National Stock Exchange (NSE) will also move 24 securities to this category. Stocks that would be transferred on both the bourses include Cambridge Technology Enterprises, Nissan Copper, Raj Oil Mills and Ramsarup Industries.

    These scrips would be traded and settled on trade-to-trade basis effective from August 11, the exchanges said in separate circulars. 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 a part of surveillance review and to ensure market safety and safeguard the interest of investors, the bourses said.

    The exchanges have asked trading members "to take adequate precaution" while trading in these scrips. "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 the market conditions," it added.

    Besides, BSE and NSE also issued a list of stocks that would continue in the trade-for-trade segment on their respective platforms. While BSE has identified 244 companies whose securities will remain under restricted category, NSE has listed 80 companies.

    first published: Aug 7, 2015 02:51 pm

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