BSE resets circuit limit of ARSS Infrastructure, 6 others

To curb excessive volatility, top stock exchange BSE has tweaked the circuit limit for share movement of ARSS Infrastructure Projects Ltd, which has zoomed by nearly 40 per cent in the last two trading sessions.
Apart from ARSS Infrastructure, the exchange has revised circuit limit of six other companies including Sterlite Technologies.
The new limits, effective from tomorrow, will ensure stock prices do not go up or down beyond a level during a session.
Share price of Sterlite Technologies -- cannot change by more than 20 per cent in a day, BSE said in a circular.
The exchange has set a circuit limit of 10 per cent for four companies -- ARSS Infrastructure, Hexa Tradex, Urja Global and Himadri Chemicals and Industries.

Shares of ARSS Infrastructure zoomed 20 per cent today as the company's JV won a Rs 44 crore order from the Indian Railways for earthwork in Odisha. The counter had gained 20 per cent in the previous session too.

Also, it fixed a limit of two per cent for Transcorp International and Sibar Auto Parts.
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.
"Trading members of the exchange are hereby informed that the circuit filters has/have been changed from their existing levels... In the scrips (7) with effect from June 29, 2016," BSE said.