Leading stock exchange BSE today said it will discontinue restricted trade facility in the securities of 13 companies from September 14 for continued non-compliance with listing norms.
Currently, these 13 scrips are in the ‘Z Group’ which allows restricted trading.
Digital Electronics, Zyden Gentec, Elder Health Care, Luminaire Technologies and Era Buildsys would be among the companies that would face trading suspension from September 14, BSE said in a notice.
Other companies include Orissa Sponge Iron & Steel, Esquire Money Guarantees, White Lion Asia, Gemmia Oiltech (India), Galaxy Consolidated Finance, Era Infra Engineering, Elder Pharmaceuticals and Elder Projects.
In February, the exchange had suspended trading in these 13 securities for 15 days before allowing restricted trading under ‘Trade for Trade basis in Z group’.
Once classified in this category, trading is allowed only on the first trading day of every week for six months.
Besides, the exchange had ordered freezing of the entire promoter shareholding of these companies till further notice.
BSE said as time period of the mandated six months has been completed, the facility of trading in the shares of the 13 firms under ‘Z Group’ would be discontinued from September 14.