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March 26, 2001
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Money > Business Headlines > Report March 26, 2001 |
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BSE curbs exposure limits in B1, B2 and Z group stocksSangita Shah In a risk management measure, the Bombay Stock Exchange (BSE) has tightened exposure limits in the B1, B2 and Z group stocks as well as shares traded in the compulsory rolling settlement (CRS) system. This will restrict the cumulative net outstanding purchase or sale position of members in a settlement in these shares from Monday. Under CRS, the exposure in a single stock has been capped at Rs 10 million in a settlement with the normal margin in place. However, exposure of Rs 10-20 million in a single stock will be allowed only on payment of a 25 per cent special ad hoc margin. Exposure of more than Rs 20 million in a single stock will not be permitted, and cumulative exposure in all stocks under CRS will be restricted to Rs 50 million. The above limits will be reviewed before the additional scrips cleared by the Securities and Exchange Board of India move into the CRS segment. Institutional transactions and transactions marked 'sale for delivery' will be exempt from the above limits. The cumulative net outstanding purchase or sale positions in a single and all B1 group stocks have been limited to Rs 50 million and Rs 150 million, respectively. The B1 group will attract a special ad hoc margin of 25 per cent on the cumulative net outstanding purchase or sale position in a single stock. Similarly, in the B2 group, the cumulative net outstanding purchase or sale position in one stock has been restricted to Rs 10 million, and in all B2 group shares to Rs 40 million. A cumulative net outstanding purchase or sale position between Rs 5 million and Rs 10 million in a single B2 scrip will attract 25 per cent special ad hoc margin in addition to the special margin applicable to the scrip. The limits for the cumulative net outstanding purchase or sale position in a single and all Z group scrips in one settlement have been fixed at Rs 2.5 million and Rs 5 million, respectively.
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