NEW DELHI: Leading stock exchange NSE will shift 15 firms to the restricted trading category from Thursday as part of surveillance review.
Trading in 15 securities will be available in Trade for Trade segment at a price band of 5 per cent or lower with effect from September 27, the exchange said in a circular.
Under the segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
The firms are Simbhaoli Sugars, Mawana Sugars, Sakthi Sugars, Rana Sugars, The Ugar Sugar Works, Rajshree Sugars & Chemicals, Spentex Industries, Bedmutha Industries, Flexituff International, Jai Balaji Industries, Kesar Enterprises, Refex Industries, Kothari Sugars And Chemicals, Palash Securities and Precot Meridian.
"Members are requested to take adequate precaution while trading in the above securities, as the settlement will be done on trade-to-trade basis and no netting off will be allowed," the NSE said.
The criteria for shifting scrips to and from this segment are decided jointly by the stock exchanges in consultation with the Securities and Exchange Board of India and reviewed periodically.
"Further, it may also be noted that the transfer of security for trading and settlement on 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," the exchange said.