UB group scrips under watchlist: Bourses
Leading bourses BSE and NSE on Monday decided to shift securities of several firms, including Vijay Mallya-led Kingfisher Airlines and United Breweries (Holdings), to the restricted trading category from July 19.
The scrips of Reliance MediaWorks and Ramco Systems, among others, would also be moved to the restricted on both stock exchanges.
The stocks would be shifted with effect from July 19.
In the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
As per the bourses, the move is part of the “surveillance review and with a view to ensure market safety and safeguard the interest of investors”.
The stock exchanges have advised 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 will be allowed”.