Leading exchange BSE will move seven firms to the restricted trading category and keep them under enhanced surveillance from tomorrow as part of efforts to safeguard interest of investors in the capital market. Shares of these companies would be moved to the trade- to-trade segment under Stage 1 of the Graded Surveillance Measure (GSM). The firms being moved to Stage 1 of enhanced surveillance are Adinath Exim Resources, Dwitiya Trading, Narendra Investments (Delhi), Padmanabh Industries, Purple Entertainment, SS Organics and TPI India.
In the Stage 1, the scrip is moved to the “trade for trade” segment with the permitted price band of five per cent or lower as applicable. In a circular, BSE said the firms will be moved to Stage I of GSM with effect from May 8. The exchange has asked trading members to take adequate precaution while trading in the shares of these seven firms, as the settlement would be done on trade-to-trade basis and no netting off would be allowed.