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BSE, NSE to move 33 cos to restricted trade segment

Press Trust of India  |  New Delhi 

Stock exchanges and will shift 33 companies to the restricted trading segment from Friday as a safeguard for investors.

will shift the scrips of 25 firms to the trade-to- trade or the 'T' or 'XT' group segment, while the (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 Corporation, Easun Reyrolle, Euro Multivision, Lycos Internet, Surana Industries, Palred Technologies and & Industries.

Under the trade-to-trade segment, no speculative trading is allowed and delivery of 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".

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

First Published: Wed, March 15 2017. 19:23 IST