BSE resets circuit limit of Sahara Housingfina, 9 others

To curb excessive volatility, top stock exchange BSE has tweaked the circuit limit for share movement of Sahara Housingfina Corporation, which zoomed by more than 40 per cent in the last two trading sessions.
Apart from Sahara Housingfina, the exchange has revised circuit limit of nine other companies.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a level during a session.
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.

Share price of Sahara Housingfina Corp cannot change by more than 10 per cent in a day, BSE said in a circular.
Shares of Sahara Housingfina Corp zoomed 19.97 per cent today to close at Rs 72.70 apiece on the BSE. The counter had gained around 20 per cent in the previous session too.

Besides, the exchange has set a circuit limit of 20 per cent for Digjam Ltd.
Also, it has fixed a limit of 10 per cent for Seshasayee Paper & Boards, Blue Chip Tex Industries, Sujana Metal Products, Sathavahana Ispat.
It has set a limit of five per cent for three companies -- Bilpower, Bisil Plant and Prime Securities -- and a limit of two per cent for Kapil Cotex.

"Trading members of the exchange are hereby informed that the circuit filters has/have been changed from their existing levels...In the scrips (10) with effect from July 27, 2016," BSE said.