Leading exchange BSE has revised the circuit limit for the shares of FMCG firm J L Morison (India) and five other companies to curb excessive volatility in their prices.
The new limits, effective Friday, will ensure stock prices do not fluctuate beyond a prescribed level during a session.
In a notice dated September 19, the BSE said the price band has been revised from their existing levels in six scrips with effect from September 21.
According to the notice, a circuit limit of 10 per cent has been set for J L Morison (India), Rolta India, Prakash Woollen & Synthetic Mills and Meenakshi Enterprises.
Besides, a price band of 5 per cent has been set for Rajoo Engineers and Eco Recycling.
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Among the six firms, J L Morison (India) has the highest market capitalisation at Rs 349.94 crore and Meenakshi Enterprises lowest at Rs 12.81 crore.
Besides, Rolta India has a valuation of Rs 335.93 crore, Rajoo Engineers Rs 258.74 crore, Eco Recycling Rs 72.19 crore and Prakash Woollen & Synthetic Mills Rs 50.63 crore.
Circuit filter mechanism is used by the BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
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