3i Infotech, Piamal Life among scrips identified by BSE, NSE for restricted trading

After a surveillance review, the two bourses, BSE and NSE, have identified various scrips, including 3i Infotech Ltd and Piamal Life Sciences Ltd, for shifting into restricted trading category.

The BSE would shift 81 stocks to the trade-to-trade or "T" segment, while NSE would transfer 26 scrips to this category, the exchanges said in separate notifications.

These changes would be effective from December 12, 2012. Scrips including 3i Infotech Ltd and Piramal Life Sciences Ltd would be shifted to the "T" group on both the exchanges. In 'trade-to-trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

The move is part of the preventive surveillance measure taken by bourses to ensure the market safety and to safeguard the interest of investors.

Also, the exchanges have advised investors to exercise caution while trading in these stocks.

Other stocks that would be transferred to trade-to-trade segment on both bourses, Landmark Property Development Company Ltd, PVP Ventures Ltd and Moser-Baer (India).

The stocks in "T" group category attract a low circuit filter. The maximum permissible limit within which the share price can move is 5 per cent up or down. Besides, NSE also said that 98 stocks including Wockhardt, Zee News, Welspun Global Brands Ltd and T T Ltd would continue be in the restricted trading category.

"Members are requested to take adequate precaution while trading in the above securities, as the settlement will be done on trade-to-trade basis and no netting off will be allowed," the exchanges said.

"Further, it may also be noted that 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," they added.