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Journalism of Courage
Premiere bourses BSE and NSE have identified several scrips including that of Reliance Broadcast Network for shifting them to the restricted trading category from July 5 as a measure to ensure market safety.
BSE will shift 35 securities to the trade-to-trade or 8216;T8217; group,while NSE will transfer nine stocks to this category,the stock exchanges said in separate notifications.
Some other firms which would be shifted to the 8216;T8217; group on both the stock exchanges are 8212; Emkay Global Financial Services,Indiabulls Infrastructure and Power,Bil Energy Systems,FCS Software Solutions and Jai Balaji Industries.
In the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
As per BSE and NSE,the move is part of the surveillance review 8220;to ensure market safety and safeguard the interest of investors8221;.
The bourses have advised investors to take 8220;adequate precaution8221; while trading in these scrips.
However,the bourses said: 8220;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.8221;
These stocks will attract a circuit filter of up to 5 per cent. It will be the maximum permissible limit within which their share prices will be allowed to move.
Meanwhile,NSE had identified as many as 68 stocks which 8220;will continue in trade for trade segment series8221;.
These stocks include 8212; Kitply Industries,Uniply Industries,Sun Pharma Advanced Research Company and Paramount Communications.
