NSE revises price band for 278 stocks

The National Stock Exchange (NSE) has revised price band for 278 stocks. The price band for 114 stocks has been revised from 5 to 10 per cent. These include IndiaBulls Retail Services, Khaitan Electricals, Kohinoor Foods, Maytas Infra and Pyramid Saimira Theatre.

For eight stocks, including Amtek India and Provogue, the band has gone up from 5 per cent to 20 per cent.

For 145 stocks, the price band has been pushed up from 10 per cent to 20 per cent. These include Almondz Global Securities, Ansal Housing and Construction and Hindustan Motors.

For six stocks, the band has been revised downwards from 10 per cent to 5 per cent. For Godrej Industries, the band has been brought down from 20 per cent to 5 per cent.

Mayank Shah, CEO, Anagram Stock Broking, said, “The price band of these scrips has been revised because the free float in these stocks is low, which makes way for manipulation and is being driven by operators."