The revamped specified group plan of shares at Delhi Stock Exchange (DSE), that comes into operation on March 8, will include all the top 50 scrips at the DSE, Bombay Stock Exchange, National Stock Exchange and Calcutta Stock Exchange.
As a result of the revamp, which was approved by the DSE board on Saturday, the number of scrips in DSEs specified group will go up to 100-120, as many scrips will be common to the 50 scrips with the highest turnover at the four bourses.
Of the 57 scrips that comprise the stock exchanges specified list at present, eight will be dropped.
Those specified scrips of DSE that do not figure in the list of the top 100 scrips by way of turnover will be removed from the current specified list of the bourse.
Besides, no fresh share with a market price of less than Rs 10 will be included in the list of specified shares of DSE.
The committee, headed by DSE president Deepak Chowdhry and executive-director S S Sodhi, will review every three months the specified list constituted after the revamp as well as the criteria for a including a scrip in the group.
The committee would be empowered to delete any scrip if the company is not widely held, or if the scrip is prone to price manipulation. A scrip can be deleted also if the committee feels that it is not desired in the list.
Trading volumes are expected to rise substantially after the revamp of the specified list. It is part of DSEs strategy to cater to a large spectrum of investors.
The specified shares have a settlement period of two weeks, against one week for others.
