To curb excessive volatility, leading stock exchange BSE today tweaked the circuit limit for share movement of 29 companies, including Megasoft Ltd and MFL India.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a level during a session.
Circuit filter mechanism is used by stock exchanges to keep excessive volatility in check. It is the maximum fluctuation that is allowed during trading, which gets suspended if the permissible limit is hit in either direction.
A circuit limit of 20 per cent has been set for Sabrimala Leasing And Holdings, the exchange said in a circular.
Besides, BSE has also revised the circuit limit to 10 per cent for Metroglobal Ltd, Total Exports, Duke Offshore, Prerna Infrabuild, Sree Sakthi Paper Mills, Tulsi Extrusions, Megasoft Ltd and Genus Paper & Boards.
It has also fixed a limit of 5 per cent for Krishana Fabrics, Bigbloc Construction, Transcorp International, Classic Global Finance & Capital, Surya Marketing, Ojas Asset Reconstruction, Odyssey Corporation, Kilpest India, Dynacons Systems & Solutions, Emmessar Biotech & Nutrition and MFL India.
A limit of 5 per cent has also been set for Excel Castronics, Nath Pulp & Paper Mills, Indokem Ltd, Escorts Finance, Smiths & Founders (India), Star Paper Mills, Transglobe Foods, Perfect-Octave Media Projects and Shrenuj & Co.
The circuit filters have been changed from their existing levels in the 29 scrips with effect from October 14, as per the circular.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)