BSE to drop Amtek Auto from SLB segment

BSE today said it will exclude debt-laden Amtek Auto from trading in the securities lending and borrowing (SLB) segment with effect from November 6.
The securities lending and borrowing (SLB) mechanism allows short sellers to borrow securities for making delivery.
"Amtek Auto shall not be available for trading in the SLB segment with effect from November 6, 2015," BSE said in a circular.
Prior to that, the exchange had announced that Amtek Auto will be dropped from futures and options (F&O) segment with effect from October 30.
The stock has been on the backfoot amid weak June quarter results, debt worries and exclusion from the futures and options segment.

According to Sebi guidelines, shares with an average monthly trading turnover of Rs 100 crore or more in the previous six months are eligible for trading in SLB segment.
Besides, shares with market-wide position limit (which indicates the investors' interest in a share) of at least Rs 100 crore is also eligible for the inclusion in SLB scheme.
Shares of the company settled at Rs 42.20 apiece on the BSE, down 1.06 per cent from the previous close.