Leading stock exchanges BSE and NSE have decided to shift back stocks of several firms, including Vijay Mallya-led Kingfisher Airlines and United Breweries (Holdings), to the normal trading segment from the restricted category, with effect from August 30.
Last month, the stocks of Kingfisher, United Breweries and Reliance MediaWorks were moved to the restricted trading category or the ‘T’ group as part of a surveillance review.
Overall, BSE would shift 265 securities to the normal trading category from ‘T group, while NSE will transfer 88 stocks to the segment, with effect from August 30, the bourses said in a separate notification.
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Some other securities which would be shifted to normal trading on both BSE and NSE are Indiabulls Infrastructure and Power, Sun Pharma Advanced Research, Ramco Systems and Mahindra Ugine Steel Co.
According to BSE, these scrips would be moved to their original segment, which is the ‘B’ group category and will continue to attract the circuit filter of 5 per cent. Group ’B’ consists of more than 3,000 stocks on the BSE.
Further, BSE would move 91 stocks to ‘T’ group, while NSE would transfer 33 scrips to this segment, from August 30.
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The securities of Aditya Birla Chemicals, Hindustan Oil Exploration Company, Hinduja Foundries and Tata Metaliks are some of the securities which would be shifted to the ‘T’ Group on both NSE and BSE, as part of surveillance review and with a view to ensure market safety as well as to safeguard the interest of investors.
A circuit filter of five per cent has been assigned to these scrips, which would be the maximum limit allowed within which the share price can move.
The equity scrips are classified into categories such as Group A, Group B, Group T, among others, to provide guidance to the investors.
The classification is based on several factors like market capitalisation, trading volumes and numbers, track records, profits, dividends, shareholding patterns, and some qualitative aspects.