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5 scrips to be under enhanced surveillance from tomorrow

Press Trust of India  |  New Delhi 

As many as five companies will be moved to the restricted trading category and brought under enhanced surveillance of stock exchanges from tomorrow.

These will be moved to the trade-to-trade segment under Stage 1 of the graded surveillance measure.

While will put all the five under enhanced surveillance, its rival will place only one scrip, Blue Chip India, under the mechanism.

The other four firms are: Crescent Leasing, Delta Industrial Resources, & Telecommunication and & Allied Products.

In two separate circulars, the exchanges said trading in the of these companies would be shifted to trade-to- trade settlement category from March 22.

The applicable price band shall be 5 per cent or lower, as per the circulars.

Members are requested to take adequate precaution while trading in the above securities, as the settlement shall be done on trade-to-trade basis and no netting off shall be allowed, the exchanges said.

On March 3, the bourses had listed more than 800 companies under graded surveillance measures framework to check any abnormal rise in stock price not commensurate with these firms financial health.

Under graded surveillance measures, the bourses can also ask the entities concerned to deposit an additional amount as surveillance deposit which can be retained for an extended period.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 21 2017. 17:42 IST