Business Market 09 May 2017 BSE, NSE to move 23 ...

BSE, NSE to move 23 cos to restricted trade segment

PTI
Published May 9, 2017, 10:23 am IST
Updated May 9, 2017, 10:23 am IST
The securities would attract a price band of 5 per cent or lower, as per exchanges.
BSE building.
 BSE building.

New Delhi: Leading exchanges BSE and NSE will move about 23 firms to the restricted trading segment from Thursday as a safeguard for investors. While BSE will move all 23 firms to trade-to-trade segment, rival NSE will shift only seven firms, as per the data available with the exchanges.

The seven firms to be moved to the trade-to-trade segment on both the bourses are Manaksia Industries, Petron Engineering Construction, Pritish Nandy Communications, Sastasundar Ventures, Transwarranty Finance, Williamson Magor & Company and Zenith Exports.

 

The securities would attract a price band of 5 per cent or lower, as per the exchanges. Under the trade-to-trade segment, no speculative trading
is allowed and delivery of shares and payment of consideration amount are mandatory.

According to the exchanges, the actions have been taken "to ensure market safety and safeguard the interest of investors". The two exchanges have asked trading members "to take adequate precaution" while trading in the scrips as the
settlement will be done on trade-to-trade basis and no netting off positions will be allowed.

 

Further, they said that the transfer of security 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.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->