NSE to shift 3 stocks to restricted trading segment
Feb 18 2013 , Mumbai
The exchange said Bodhtree Consulting Ltd, Abhishek Corp and Ashco Niulab Industries Ltd would be shifted to trade-to trade category or "T" group from rolling settlement, while Austral Coke & Projects Ltd would be transfered to rolling settlement, NSE has said in a circular.
The changes would be effective from February 22, it added.
Besides, NSE said that scrips of 15 companies including Jain Studios, Supreme Text Mart Ltd and Lakshmi Finance & Industrial Corp would continue to trade in "T" group.
In 'trade-to-trade' segment no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.
The move is part of the preventive surveillance measure taken by the bourse to ensure market safety and safeguard the interest of investors.
Also, the exchange has advised exercise of caution while trading in these scrips.
"Trading members should note that the transfer of scrips for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company," NSE said.
"Further, this is a temporary measure and will be periodically reviewed depending on the market conditions," it added.