NSE to move 24 scrips to restricted trade segment from Mar 3

Tags: NSE, Stock Market
Leading bourse National Stock Exchange (NSE) will transfer 29 stocks, including Global Offshore Services Ltd and Sanghvi Forging and Engineering Ltd, to the restricted trade category from March 3.

The move is part of a surveillance review to safeguard interest of investors in the capital market.

Among other stocks that would be shifted to the trade- for-trade or 'T' group on the exchange included Avanti Feeds Ltd, Celebrity Fashions Ltd, Indian Terrain Fashions Ltd, Vikas GlobalOne Ltd and Phoenix Lamps Ltd.

Besides, NSE said that as many as 184 stocks including Kingfisher Airlines, 3i Infotech and Emami Infrastructure and Orchid Chemicals & Pharmaceuticals would be be shifted back from restricted category to rolling segment.

These changes would be effective from March 3, NSE has said in a circular.

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

As per the bourse, the move is part of the "surveillance review, with a view to ensure market safety and safeguard the interest of investors."

The stock exchange has advised the 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".

However, the bourse added the transfer of these securities 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.

EDITORIAL OF THE DAY

  • The talent to make things grow big must be rewarded without a ceiling

    Executive pay has always been a hotly debated topic, mainly because it involves a lot of money.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

How leaders groom future leaders

As writer Tom Peters said, “Leaders do not create followers, ...

Rajgopal Nidamboor

Pluralistic essence of our being

Our new understanding of the mind through the rapidly expanding ...

Dharmendra Khandal

Have you spotted those wasps, yet?

Wasps are insects that ride on the monsoon winds. I ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture