BSE to shift 10 scrips to restricted category from Jan 5

Top bourse BSE has decided to shift stocks of 10 companies, including Pritish Nandy Communications (PNC), to the restricted trading segment from January 5 to ensure market safety and safeguard the investor interests.
Besides PNC, BSE would shift the stocks of Adarsh Plant Protect, Adinath Bio-Labs, Bharat Wire Ropes, Energy Development Company, KSS, Kunststoffe Industries, Pradeep Metals, Steelco Gujarat and Unistar Multimedia to the trade-for-trade segment ('T' or 'XT' group).
In the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
"The exchange with a view to take preventive surveillance measure to ensure market safety and safeguard the interest of the investors, has decided to take the surveillance action," BSE said in a circular today.

The scrips of 10 companies would be traded and settled on trade-to-trade basis from January 5 and would attract a circuit filter of 5 per cent or lower.
The bourse has asked its members "to take adequate precaution" while trading in these stocks.
However, BSE said the transfer of security for trading and settlement on a trade-to-trade basis "is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company".
"Further, this is a temporary measure and will be periodically reviewed depending on the market conditions," it added.