Stock exchanges BSE and NSE will shift 33 companies to the restricted trading segment from Friday as a safeguard for investors. BSE will shift the scrips of 25 firms to the trade-to- trade or the 'T' or 'XT' group segment, while the National Stock Exchange (NSE) has decided to move 8 stocks, the bourses said in separate notices. The stocks to be moved to the 'T' group on both the bourses are Agarwal Industrial Corporation, Easun Reyrolle, Euro Multivision, Lycos Internet, Surana Industries, Palred Technologies and Soma Textiles & Industries. Under the trade-to-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory. The move is a part of surveillance review with a view to ensure market safety and safeguard the interest of investors, the exchanges said. The two exchanges have asked 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". Further, they said 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".
BSE, NSE to move 33 cos to restricted trade segment
Press Trust of India |