To curb excessive volatility, stock exchange BSE today revised the circuit limit for share movement of United Breweries (Holdings) Ltd and McDowell Holdings, which have surged by more than 40 percent in last four trading sessions.
In a circular, the exchange said it has set a circuit limit of 10 percent for United Breweries (Holdings) and McDowell Holdings.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a level during a session.
Since September 14, United Breweries shares jumped by more than 48 percent, while that of McDowell Holdings surged by 46.5 percent during the period under review.
Circuit filter mechanism is used by stock exchanges to keep excessive volatility for a scrip in check. It is the maximum fluctuation that is allowed in a stock, after which trading in it gets suspended if the permissible limit is hit in either direction.
Apart from these two, a limit of 20 percent has been set for Bigbloc Construction Ltd.
The exchange has also fixed a limit of 10 percent for Samruddhi Realty, Oceanaa Biotek Industries, Dhabriya Polywood and Tirupati Tyres.
A limit of 5 percent has also been set for Escorts Finance, Hindusthan National Glass & Industries and AksharChem India.
The circuit filters have been changed from their existing levels in the 10 scrips with effect from September 20.
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