Leading stock exchanges Bombay Stock Exchange and National Stock Exchange will move stocks of several firms, including that of Hitachi Home and Life Solutions and Panasonic Appliances India Company to the restricted trading segment from December 20, to ensure safety of the capital markets.
In total, BSE would shift as many as 40 securities to the trade-for-trade category or 'T' Group while NSE would transfer 18 scrips to the segment on its platform, as per separate notices issued by both the bourses.
Besides Hitachi and Panasonic, securities of Eveready Industries, 3i Infotech Limited and REI Six Ten Retail would also be moved to the restricted segment on both the bourses.
In the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
According to BSE and NSE, the move is part of a surveillance review, with a view to ensure market safety and safeguard the interest of investors.
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 that would be the maximum permissible limit within which the share price can move.
Meanwhile, NSE also said that as many as 147 stocks would continue in the trade-for-trade segment on its platform which included securities of Birla Cotsyn (India) Ltd, Educomp Solutions and Bharati Shipyard.