L&T Finance Holdings, Thangamayil Jewellery dips on shifting into T2T group

Shares of L&T Finance Holdings, Thangamayil Jewellery and Money Matter Financial Services are trading lower by over 4% each after these stocks have transferred into trade-to-trade (T2T) segment as a part of surveillance measure with effect from today.

The Bombay Stock Exchange (BSE) has transferred more than 250 stocks from their regular groups to T2T segment in order to take "preventive surveillance measure to ensure market safety and safeguard the interest of investors

"As a part of surveillance measure the exchange transfers 290 stocks for settlement on a trade to trade basis with effect from December 3, 2012,” the BSE said in a notice dated November 26, 2012.

All these three stocks have rallied more than 30% each in November compared to around 5% rise in the broader index BSE-500.

If a scrip is shifted for settlement on T2T basis, selling/ buying of shares in that scrip results into giving/ taking delivery of shares at the gross level and no intra day netting off/ square off facility is permitted.

Among the individual stocks, L&T Finance Holdings and Money Matter Financial Services have dipped 4% each at Rs 71.45 and Rs 132 respectively, while Thangamayil Jewellery has locked in 5% lower circuit at Rs 313 on the BSE.