HFCL, i-Gates up on shift to rolling settlement

DALAL STREET SPIKES

Stocks such as Hindustan Construction, HFCL, i-Gates and Mukta Arts were in the limelight on the BSE owing to the National Stock Exchange's (NSE) plan to shift 34 scrips from the trade-to-trade segment to rolling settlement.

Hindustan Construction was up 7.19 per cent at Rs 15.60, HFCL up 15.11 per cent at Rs 15.01, i-Gates up 20.97 per cent at Rs 271.45 and Mukta Arts up 13.27 per cent at Rs 6.35 were among the biggest gainers.

NSE, to ensure market safety and safeguard the interest of investors and as a part of a surveillance review and pursuant to the meeting with the Security Exchange Board of India (Sebi), decided to move 34 stocks from the trade-to-trade mode to the rolling settlement. It will also shift 18 securities from the rolling segment to the trade-to-trade sector.

The scrips which will be transferred to the trade-to trade segment posted losses. Among the biggest losers were GTL, SSI, and Aftek "" all ending negative in the 10-14 per cent range. The changes will come into effect on March 9, 2004.