The BSE would shift 117 securities to the trade-for-trade or 'T' group, while NSE would transfer 48 stocks to this segment, the two stock exchanges said in separate circulars.Only delivery-based transactions are allowed in this segment and traders can't take intra-day positions.
Among stocks which would be shifted to the 'T' Group segment on both the bourses included Kingfisher Airlines Ltd, Moser-Baer (India) Ltd, Usha Martin Education & Solutions Ltd, Acropetal Technologies Ltd, Nagarjuna Oil Refinery Ltd and Omax Autos Ltd. These scrips would be shifted to the trade-for-trade segment with effect from January 17. Besides, the National Stock Exchange (NSE) said that as many as 231 stocks such as 3i Infotech, Emami Infrastructure, Hindustan Dorr-Oliver and Orchid Chemicals & Pharmaceuticals will continue to trade in the restricted segment.
As per the bourses, the move is part of the "surveillance review, with a view to ensure market safety and safeguard the interest of investors". The stock exchanges have advised 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 will be allowed".
However, they added that the transfer of these securities 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 will have a price band of 5 percent -- the maximum permissible limit within which their share price can move in a trading session.