BSE, NSE to shift scrips to restricted segment on Wednesday

BSE, NSE to shift scrips to restricted segment on Wednesday

Top stock exchanges BSE and NSE will shift securities of several companies including Ramco Systems to the restricted trading segment from Wednesday for ensuring greater investor safety.

In separate notices, BSE said it has decided to move as many as 39 scrips to the trade-for-trade or the ‘T’ group segment, while the National Stock Exchange (NSE) said it would transfer stocks of 11 firms to this category, from August 6.

Ramco, stocks which would be transferred to the ‘T’ group segment on both the bourses are -- Bodal Chemicals, Sharyans Resources, Pioneer Embroideries and Jindal Poly Investment and Finance Company and Kaushalya Infrastructure Development Corporation. Under the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

The decision with respect to these securities is part of a surveillance review and to ensure market safety and safeguard the interest of investors, NSE and BSE said. The exchanges have asked trading members “to take adequate precaution” while trading in these scrips.

“Trading Members should note that 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,” the bourses said.