BSE lowers TTML's circuit limit to 10 pc

To curb excessive volatility, stock exchange BSE today lowered the circuit limit for shares of Tata Teleservices (Maharashtra) Ltd to 10 per cent after a recent rally in the stock.
The change will be effective from tomorrow and follows a surge of nearly 40 per cent in the share price of the company in the past two trading sessions.
Shares of TTML have been moving upwards after its promoter Tata Sons agreed to pay Japanese telecom firm NTT Docomo USD 1.18 billion to settle their two-year old dispute.
Circuit filter mechanism is used by stock exchanges to keep excessive volatility in check. It is the maximum fluctuation that is allowed during trading, which gets suspended if the permissible limit is hit in either direction.

In a circular, BSE said it has set a circuit limit of 10 per cent for TTML. Earlier, TTML shares were allowed an upward or downward movement of 20 per cent in a day.
TTML today zoomed 19.95 per cent to settle at Rs 9.62, its highest trading permissible limit for the day -- on BSE. The stock had gained 20 per cent in the previous session also.
Besides, the exchange has also set an upper limit of 10 per cent for Raghuvansh Agrofarms. Also, it has fixed a circuit limit of five per cent for R&B Denims, Siddarth Businesses, Prism Medico and Pharmacy, Archit Organosys and Jindal Worldwide.