BSE to shift 31 scrips; NSE to move 13 stocks to 'T' group

Tags: News
Premier stock exchanges BSE and NSE have decided to shift securities of various firms including Cantabil Retail India to the restricted trading segment from May 23, following a surveillance review.

In total, BSE would shift as many as 31 stocks to the trade-for-trade category or 'T' Group while NSE would transfer 13 scrips to the segment on its platform, as per separate notices issued by both the bourses today.

Besides Cantabil, stocks of -- Sterling Biotech, Shyam Telecom, Aftek Ltd, Bhansali Engineering Polymers, Kalindee Rail Nirman (Engineers), Sanghi Industries, Transformers And Rectifiers (India) -- are among those which would be shifted to the 'T' on both the exchanges.

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

According to the bourses, the decision with respect to these securities is part of a surveillance review and to ensure market safety and safeguard the interest of investors.

The exchanges have asked its members "to take adequate precaution" while trading in these stocks.

However, 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 circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.

Meanwhile, NSE also said that as many as 284 stocks would continue in the trade-for-trade segment on its platform which included securities of Wonderla Holidays, Birla Cotsyn (India) and Jubilant Industries.

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