Leading stock exchanges BSE and NSE today decided to shift securities of up to 85 companies to restricted trading segment from Friday as part of surveillance measures.
As per separate circulars issued by both the bourses, BSE will transfer 85 stocks to the 'T Group', while (NSE)National Stock Exchange will move 31 scrips to the restricted trade segment. The changes will happen from June 20.
Out of 85 stocks, many stocks are common on both the bourses.
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In the 'T' segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
The BSE would shift scrips of Alchemist Realty, California Software Company, DCM Financial Services and SRM Energy Ltd to the restricted trade segment, while NSE would move stocks of Bil Energy Systems, Orbit Corporation, Piramal Phytocare, Plethico Pharmaceuticals and Vardhman Special Steels to the restricted trade category.
The bourses said the decision is part of a surveillance review to ensure market safety and safeguard the interest of investors.
The exchanges have asked its members "to take adequate precaution" while trading in these stocks.
They said, however, 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".
These stocks would attract a circuit filter of up to five per cent which would be the maximum permissible limit within which the share price can move.
