BSE to shift 295 companies to restricted trade; NSE to move 126

Top stock exchange BSE has decided to shift stocks of 295 companies to the restricted trading segment from June 30 to ensure safety in capital markets and safeguard the interest of investors.

Another leading bourse NSE would also move 126 securities to this category from this month-end.

Stocks that would be transferred on both the bourses include Welspun India, Punj Lloyd, Educomp Solutions, Suzlon Energy, Siti Cable Network, Geojit BNP Paribas Financial Services, Edelweiss Financial Services and NIIT.

The BSE in a notice said it would be shifting as many as 295 scrips to the trade-for-trade or the 'T' group segment.

In a separate notice, National Stock Exchange (NSE) said has it decided to move 126 stocks to this category.

Under the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

The decision is a part of a surveillance review and to ensure market safety and safeguard the interest of investors, the bourses said.

The exchanges have asked trading Members "to take adequate precaution" while trading in these scrips.

"Trading Members should note that transfer of scrips for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company," the bourses said.

"Further, this is a temporary measure and will be reviewed periodically depending on the market conditions," it added.

Meanwhile, BSE will shift as many as 298 scrips out of the 'T' group to the normal trading category and NSE will do the same with 171 stocks, from June 30.

These scrips include Kingfisher Airlines, Essar Oil Ltd, Essar Shipping, Aditya Birla Money, Hotel Leela Venture, IL&FS Engineering and Construction Company, Kalindee Rail Nirman (Engineers), Lanco Industries, Pipavav Defence and Offshore Engineering Company and TV18 Broadcast.

Besides, BSE and NSE also issued a list of stocks that would continue in the trade-for-trade segment on their respective platforms.

While BSE has identified 781 companies whose securities will remain under restricted category, NSE has listed over 200 companies.