Bourses to shift Kingfisher Airlines, Jubilant to 'T' group
Apr 21 2014 , Mumbai
While BSE would be transferring 63 securities to the trade-for-trade category or 'T' Group, while National Stock Exchange (NSE) would shift 37 scrips to the segment.
Besides Kingfisher and Jubilant, stocks which would be shifted to the 'T' group category on both the bourses are -- UB Engineering, Shriram EPC, Ramky Infrastructure, Paramount Communications, Mukand Ltd and Kemrock Industries and Exports.
Further, BSE would also be moving scrip of Shriram Asset Management to the restricted trading segment.
The trade-for-trade segment allows for only delivery-based transactions and traders cannot take intra-day positions.
According to the stock exchanges, the move is part of a surveillance review and to ensure market safety and safeguard the interest of investors.
"Members are requested to take adequate precaution while trading in the above securities, as the settlement will be done on trade-to-trade basis and no netting off will be allowed," the exchanges said.
However, they added that the move "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 circuit filter of up to 5 percent which would be the maximum permissible limit within which the share price can move.
Moreover, NSE said as many as 226 securities including Bharati Shipyard and Birla Cotsyn (India) Ltd would continue to trade under 'T' Group category.