To ensure market safety and safeguard the interest of investors, BSE today decided to transfer shares of 23 companies to the restricted trade category from February 2.
The stocks to be moved to the restricted segment — T or XT group — include Remsons Industries, SRS Ltd, Sharp India, Maximaa Systems, Farry Industries, Diamond Power Infrastructure and Prajay Engineers Syndicate.
Under the T or XT group category, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
The securities of 23 companies would be “traded and settled on Trade to Trade basis wef February 2, 2017 and would attract a circuit filter of 5 per cent or lower as applicable,” BSE said in a notice.
The move is part of surveillance review to ensure market safety and safeguard the interest of investors.
Furthermore, the bourse said the “transfer of security for trading and settlement on a trade-to-trade basis is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company”.
The criteria for shifting securities to and from for settlement on trade to trade basis is decided in consultation with Sebi and applied uniformly across the stock exchanges and reviewed periodically.
(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)