This Article is From Sep 06, 2014

BSE to Shift 74 Scrips to Restricted Category From September 9

BSE to Shift 74 Scrips to Restricted Category From September 9

Mumbai: Bombay Stock Exchange (BSE) will shift securities of 74 companies to the restricted trading segment from September 9, to ensure safety of the investors.

The stocks to be transferred to the trade-for-trade or the 'T' group segment include Panasonic Appliances India Company, Saregama India, Shriram Asset Management Company and JBM Auto.

Under the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

The move is "with a view to take preventive surveillance measure to ensure market safety and safeguard the interest of the investors", BSE said in a statement on Friday.

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

According to BSE, "The transfer of scrips for trading and settlement on a trade-to-trade basis is purely on account of market surveillance measure and it should not be construed as an adverse action against the company."

"This is a temporary measure and will be reviewed periodically depending on the market conditions," it added.

Further, BSE said it would shift securities of 87 firms Emkay Global Financial Services out of the restricted segment with effect from September 9.

The bourse also said that securities of 252 companies, including Ramco Systems and Bharatiya Global Infomedia, would continue in the trade-for-trade segment.