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BSE, NSE to keep two cos under enhanced surveillance

Press Trust of India  |  New Delhi 

Leading bourses and (NSE) would move two firms to Stage 3 of the Graded Surveillance Measure (GSM) from tomorrow.

While is moving VKS Projects to Stage 3 of the GSM, the is transferring Farmax apart from VKS Projects.

Under Stage 3 of the enhanced surveillance, trading in securities is permitted once on the first trading day of the week.

Besides, the scrip is moved to the "trade for trade" segment with the permitted price band of five per cent or lower as applicable and there is also a requirement for Additional Surveillance Deposit (ASD) of 100 per cent of trade value charged to the buyer.

said that trading in of VKS Projects "shall be made available for trading from April 24, 2017 onwards on a weekly basis".

The bourses have asked members to take "adequate precaution" while trading in of these firms, as the settlement would be done on trade-to-trade basis and no netting off would be allowed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 18 2017. 22:42 IST