Leading bourses BSE and NSE today decided to
shift securities of several firms, including Vijay Mallya-led
Kingfisher Airlines and United Breweries (Holdings), to the restricted
trading category from July 19. The scrips of Reliance MediaWorks and
Ramco Systems, among others, would also be moved to the restricted on
both stock exchanges. BSE would shift 62 securities to the
trade-for-trade or 'T' group, while NSE would transfer 36 stocks to this
segment, the stock exchanges said in separate notifications today.
The stocks would be shifted with effect from July 19. 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 bourses, the move is part of the "surveillance review and with a view to ensure market safety and safeguard the interest of investors".
The stock exchanges have 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, they 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.
The stocks would be shifted with effect from July 19. 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 bourses, the move is part of the "surveillance review and with a view to ensure market safety and safeguard the interest of investors".
The stock exchanges have 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, they 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.
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