News Nation Logo

BREAKING

BSE, NSE to shift 69 companies to restricted trading segment on Jan 19

BSE And NSE Will On January 19 Shift A Total Of 69 Companies To The Restricted Trading Segment To Ensure Safety Of Investors In The Capital Markets.

News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 17 Jan 2017, 05:39:08 PM
Bombay Stock Exchange - File Photo

New Delhi:

Indian stock exchanges BSE and NSE will on January 19 shift a total of 69 companies to the restricted trading segment to ensure safety of investors in the capital markets.

BSE said it would be shifting scrips of 50 firms to the trade-to-trade or the 'T' or 'XT' Group segment, while the National Stock exchange (NSE) has decided to move stocks of 19 companies to this category, the bourses said in separate notices.

The stocks to be moved to the 'T' group on both the bourses include Atlas Cycles (Haryana) Ltd, Hindustan Organic Chemicals, Tree House Education & Accessories, Simbhaoli Sugars and Supreme Tex Mart.

Under the trade-to-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

The move is a part of surveillance review with a view to ensure market safety and safeguarding the interest of investors, the exchanges said.

The two exchanges have asked trading members "to take adequate precaution" while trading in these scrips as "the settlement will be done on trade-to-trade basis and no netting off will be allowed."

Further, they said that 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."

These stocks would attract a price band of 5 per cent, which would be the maximum permissible limit within which the share price can move. 

For all the Latest Business News, Companies & Commodities News, Download News Nation Android and iOS Mobile Apps.

First Published : 17 Jan 2017, 05:23:00 PM

Related Tags:

BSE NSE

Videos