BSE, NSE to move 72 stocks to restricted trade from May 9

Tags: Stock Market
Leading stock exchanges BSE and NSE have decided to shift from May 9 the scrips of 72 firms including Cinevista and Titagarh Wagons to the restricted trading segment as part of surveillance review.

While BSE will transfer 52 securities to the trade-for- trade category or 'T' Group, NSE will shift 20 scrips.

Uniphos Enterprises, Orient Paper & Industries and Future Market Networks are some of the other stocks that will be shifted to the 'T' group category on both the bourses.

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.

They added however 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 will attract a circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.

Moreover, NSE said that as many as 263 securities including Kingfisher Airlines and Jubilant Industries will continue to trade under 'T' Group category.

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