BSE to shift 54 scrips; NSE to move 12 stocks to T group
Aug 19 2013 , Mumbai
While BSE would transfer 54 scrips to the trade-for-trade segment or 'T' group, NSE would transfer 12 stocks to this category, the stock exchanges said in separate notices.
Some of the scrips which would be moved to 'T' Group on both the bourses are -- Birla Power Solutions, KDL Biotech, Polar Industries and Shree Ashtavinayak Cine Vision.
As per Sebi guidelines, shares of listed companies which have not achieved at least 50 per cent of their public holding in dematerialised (demat) or electronic form would have to trade in the 'T' Group category.
In the trade-for-trade category, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
According to BSE, these firms have not achieved 50 per cent public shareholding in demat form as per the shareholding pattern submitted by them for quarter ended June 2013 or have not submitted the shareholding pattern or given incorrect shareholding pattern.
Besides, as many 442 scrips on the BSE and 19 stocks on NSE will continue to remain in 'T' group since they have not complied with the 50 per cent demat criteria.
These firms include Dhanus Technologies, Amar Remedies, Tamilnadu Telecommunications and Standard Industries.
Moreover, BSE has decided to move 27 stocks out of the restricted-trade to normal settlement mode with effect from August 23, as they have complied with the demat target.
Companies like Wintac, Oxford Industries, India Cements Capital and Valuemart Retail Solutions are among those to be shifted to the normal trade category.