Stepping up efforts to curb excess volatility, leading exchange BSE will place 52 companies traded on it under ‘S+’ framework from Wednesday. ‘S+’ framework, put in place by BSE last week, is for enhanced monitoring of firms that are exclusively traded on its main board and do not come under the ambit of graded surveillance measures. Under this framework, scrips concerned are placed in two categories — those being settled on normal rolling basis would be under SS group whereas shares settled on trade to trade basis would be under ST group. The companies shortlisted under ‘S+’ framework would be moved to SS or ST group from June 14, BSE said in a notice. Of the 52 firms to be placed under the latest framework, 23 would be in SS group and the rest in ST group. The firms to be moved to SS group include Alfa Transformers, Aplaya Creations, Blue Circle Services, Camson Bio Technologies, Gold Coin Health Foods, Monotype India, Pritika Auto Industries and Prabhav Industries. Among the companies to placed under ST group are ARC Finance, Blue Pearl Texspin, Dhanvarsha Finvest, Gujarat Credit Corporation, India Home Loan, Kushal Tradelink, Midas Infra Trade, Prag Bosimi Synthetics, Sword & Shield Pharma and Yuken India.
Restrictions under the S+ framework include imposition of weekly, monthly price bands in addition to existing daily, quarterly, yearly price bands and imposition of very high transaction charges. “Market participants may note that ‘S+’ framework shall be in conjunction with all other prevailing surveillance measures being imposed by the exchanges from time to time,” BSE said in a notice last week. Members are advised to exercise additional due diligence while trading in these securities either on own account or on behalf of their clients, it added.