New Delhi: To check excessive volatility, stock exchange BSE today revised the circuit limit for share movement of Bhushan Steel and seven others.
The new limits, effective January 27, will ensure stock prices do not go up or down beyond a prescribed level during a session.
In a circular, the exchange said it has set a circuit limit of 10 per cent for Bhushan Steel. Shares of Bhushan Steel have surged by 48 per cent in the last seven trading sessions.
The stock settled at Rs 62.65 on BSE today, 17.98 per cent higher from the previous close.
Circuit filter mechanism is used by stock exchanges to keep excessive volatility for a scrip in check. It is the maximum fluctuation that is allowed in a stock.
Apart from Bhushan Steel, the exchange has set a limit of 10 per cent for Associated Stone Industries Kotah, Universal Cables and Panchmahal Steel.
Also, the exchange has fixed a limit of 5 per cent for Prithvi Softech, Shekhawati Poly Yarn, Noble Polymers and Abhishek Infraventures.
The circuit filters have been changed from their existing levels in the eight scrips with effect from January 27.
