BSE shifts 176 stocks to ‘trade to trade’

Posted: Wednesday, Dec 01, 2004 at 0113 hrs IST
Updated: Wednesday, Dec 01, 2004 at 0113 hrs IST

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Mumbai, Nov 30: As a part of Surveillance review and pursuant to the meeting with the capital market regulator Securities and Exchange Board of India (Sebi), The Stock Exchange, Mumbai (BSE) has decided to shift 176 stocks to Trade-To-Trade (“T”) group from December 6, 2004. The exchange in a notice to its members said that, “with a view to take preventive surveillance measure, to ensure market safety and safeguard the interest of the investors, the exchange has taken this decision”.

However, if these stocks as on the shifting date are in No-Delivery period then such stocks will be transferred to “T” Group following the completion of its no-delivery period.

In another strict step, the exchange has decided to retain 326 stocks in “Z” group (already traded and settled on trade to trade basis) which are eligible to be transferred to “T” group for not complying with the various clauses of Listing Agreement etc. Further, as and when the review of “Z” group is taken up by the Exchange and if any of such stocks qualify to be excluded from “Z” group then such scrips shall be transferred to “T” group. BSE said its members will be intimated of any such changes as and when it happens by way of a notice. In another development the exchange has decided to shift 176 stocks currently traded on trade to trade basis to their original groups from December 6, 2004. However, if these stocks as on date are in no-delivery period then such scrips will be shifted back to their original group after the expiry of this period, it said.

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