Mumbai: Premier stock exchanges BSE and NSE Thursday decided to shift securities of several companies to the restricted trading segment from December 9 with a view to safeguard the interest of investors in capital markets.
BSE said it would be shifting as many as 38 scrips to the trade-for-trade or the 'T' group segment, while the National Stock Exchange (NSE) has decided to move 4 stocks to this category, the bourses said in separate notices.
The stocks to be moved to the the 'T' group on both the bourses are Ausom Enterprise, Dynacons Systems & Solutions and Southern Ispat And Energy Ltd.
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 part of surveillance review and with a view to ensure market safety and safeguard the interest of investors, the exchanges said.
"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," they added.
Further, it said 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".
These stocks would attract a price band of 5 percent which would be the maximum permissible limit within which the share price can move.
Meanwhile, BSE said it would move securities of 43 companies to the normal segment from the 'T' group with effect from December 9.
Similarly, NSE also would shift securities of four firms to the normal segment.
Dynacons Technologies, Integra Garments and Textiles Ltd, Lyka Labs Ltd and Panasonic Appliances India Company are some of the firms which would be transferred to the normal trading segment on both the stock exchanges.
