BSE to shift 104 stocks to restricted trade category tomorrow

Country's premiere bourse BSE willshift as many as 104 stocks to the restricted trade category from tomorrow, as a measure to ensure market safety.

Country's premiere bourse BSE will shift as many as 104 stocks to the restricted trade category from Friday, as a measure to ensure market safety.

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These scrips which would be shifted to the trade-to-trade segment include that of Triveni Engineering & Industries, Sterling Biotech, Khaitan Electricals and Uttam Sugar Mills.

In the trade-to-trade segment or the 'T' group category, 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 to ensure the market safety and to safeguard the interest of investors and has been taken in consultation with market regulator SEBI, BSE said in a statement.

BSE has asked the trading members to take adequate precaution while trading in these scrips "as the settlement will be done on trade-to-trade basis and no netting off positions will be allowed".

However, it said "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".

According to the bourse, the stocks would attract a low circuit filter - the maximum permissible limit within which the share price can move - of up to 5%.