With an aim to curb excessive volatility, top stock exchange BSE has tweaked the circuit limit for share movement of 10 companies, including Global Offshore Services.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a certain level during the trading session.
Circuit filter mechanism is used by stock exchanges to keep excessive volatility in check. It is the maximum fluctuation that is allowed in trading, which gets suspended if the permissible limit is hit in either direction.
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Share price of eight companies -- Ashok Alco Chem, National Fittings, Prime Property Development Corporation, Dharani Sugars & Chemicals, Store One Retail India, Maan Aluminium, Stellar Capital Services and Global Offshore Services -- cannot move more than 10 per cent in day.
Besides, the exchange has set a circuit limit of 5 per cent for Athena Global Technologies and Cenlub Industries.
"...The circuit filters has/have been changed from their existing levels in the...Scrip/s (10) with effect from August 18, 2016," BSE said.
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