Kavveri Telecom, KS Oils among 17 picked for NSE 'T' category

Under the 'trade--to--trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

hidden June 11, 2013 14:47:37 IST
Kavveri Telecom, KS Oils among 17 picked for NSE 'T' category

Mumbai: Leading bourse National Stock Exchange (NSE) has identified 17 scrips for shifting to the restricted trading category from 14 June as a measure to ensure market safety.

In a circular, NSE said it would shift 17 stocks to the trade-to-trade segment or "T group", while the exchange would transfer another 95 stocks back to rolling segment from the restricted trading category.

The changes would be effective from 14 June.

Kavveri Telecom KS Oils among 17 picked for NSE T category

The NSE logo. Image courtesy NSE

Among the stocks which would be moved to the 'T' group are -- Sun Pharma Advanced Research Company Ltd, ANG Industries, Morarjee Textiles, Orient Abrasives, Salora International and HB Stockholdings.

Additionally, 95 stocks including A2Z Maintenance & Engineering Services, Gemini Communication, Indiabulls Wholesale Services, Khaitan Electricals, KS Oils, Triveni Engineering & Industries would be shifted back from T category to rolling segment.

Moreover, 39 scrips including Kavveri Telecom Products, Mudra Lifestyle, Zenith Birla (India) Ltd, Usha Martin Education & Solutions Ltd and Todays Writing Instruments would continue to be available for trading in "T group".

Under the 'trade--to--trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

In case of the rolling settlements, trades done on each single day are settled separately from the trades done on earlier or subsequent trading days.

According to the bourse, the changes are part of the preventive surveillance measure taken by bourse to ensure the market safety and to safeguard the interest of investors.

The exchange has advised the trading members to take "adequate precaution" while trading in these scrips as the "settlement will be done on trade-to-trade basis and no netting off positions will be allowed".

However, the NSE said that the transfer of security for trading and settlement on a trade-to-trade basis is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.

Further, this is a temporary measure and will be periodically reviewed depending on the market conditions, it added.

PTI

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