Transfer of security for trading and settlement on a trade-to-trade basis "is purely on account of market surveillance.
Mumbai: Top bourses BSE and NSE will shift securities of various firms to the restricted trading segment from July 20, ensure safety of the capital markets.
In total, BSE would shift as many as 28 stocks, including Shriram Asset Management Company and Sahara One Media & Entertainment, to the trade-for-trade segment represented by 'T', 'XT' or 'ST' groups.
At the same time, NSE would transfer 12 scrips to the trade-for-trade segment segment on its platform. In the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
The decision with respect to these securities is part of a surveillance review and to ensure market safety and safeguard the interest of investors, the exchanges said in separate notices. The exchanges have asked its members "to take adequate precaution" while trading in these stocks.
However, they said 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".
These stocks would attract a circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.