Leading exchange BSE has revised the circuit limit for shares of 11 companies to curb excessive volatility in prices.
The new limits, effective Friday, will ensure stock prices do not fluctuate beyond a prescribed level during a session.
In a notice dated October 17, the BSE said trading members of the exchange are informed that the price band has been revised from existing levels in 11 scrips with effect from October 19.
A circuit limit of 20 per cent has been set for Mac Hotels and Manorama Industries and, 10 per cent for P B Films, Energy Development Company and India Cements Capital, according to the notice.
Besides, a price band of 5 per cent has been set for R&B Denims, Shristi Infrastructure Development Corporation, Ind Bank Housing and E-Land Apparel, while 2 per cent for Apoorva Leasing Finance and Investment Company and Srestha Finvest.
Circuit filter mechanism is used by the BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
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