The Bombay Stock Exchange (BSE) has put 27 scrips under trade-to-trade settlement as they have shown considerable price increase over the last one month or so.
Geometric Software, Mascot Systems, Adlab Films, Aksh Optifibre, Crest Communications, Aztec Software, Jupiter BioSciences, Kale Consultants, Onward Technologies, Oriental Informatics, RS Software, Tata Telesytems and Sierra Optics are among the scrips which have been put under trade-to-trade segment.
A number of scrips had shown unusual price movements since September 3, when the ALBM on the National Stock Exchange (NSE) and badla on the BSE were discontinued. While the markets went into a tailspin following the terror attacks on the US, many scrips bounced back to their higher levels, suggesting speculative activity.
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More than 60 scrips have been identified by the exchanges. While some of the scrips have increased by more than 50 per cent some scrips have increased by more than 100 per cent.
The scrips which have show an increase of more than 100 per cent are Geometric Software, IT Microsys, Aftek Infosys, Trigyn Info, Mascon Global, Mascot Systems, Himachal Futuristic, Color Chem, Forbes Gokak, Mphasis BFL, Ahmedabad Electricity Company, TV Eighteen and Sri Vishnu Cements.
The rumours about scrips being put under trade-to-trade have been doing the rounds for more than a month now. The unusual price movement in the shares of some companies was the reason behind the rumours - since the market was aware that some action would be taken by the exchanges. However NSE, thus far, has not taken any action on the scrips.