BSE, NSE to keep 9 companies under enhanced surveillance

As a part of efforts to defend passion of buyers within the capital market, leading exchanges BSE and NSE will move 9 corporations to the limited trading class and maintain them under greater surveillance from Friday.

Shares of those corporations can be moved to the trade-to-trade phase beneath Stage 1 of the Graded Surveillance Measure (GSM).

within the Stage 1, the scrip is moved to the "change for trade" section with the accredited price band of five per cent or decrease as applicable.

while each the exchanges will transfer Accel Frontline to Stage 1 of GSM, BSE alone would transfer Abhishek Infraventures, Bronze trading, Chennai Meenakshi Multispecialty, fight medicine, Foundry gas products, I-power options India, Regency Investments and Telecanor global underneath the mechanism.

In two separate circulars, the exchanges said the scrips will likely be moved to Stage 1 of GSM with effect from April 28.

The bourses have requested individuals to take "ample precaution" while buying and selling within the shares of those companies, because the agreement could be achieved on alternate-to-trade foundation and no netting off can be allowed.

closing month, BSE and NSE had made up our minds to maintain more than 800 firms under GSM framework in order to test any abnormal upward push in inventory value that does not commensurate with the firms' financial well being.

VISIT - Adviserstreet