 "BSE to drop Dena Bank, Vijaya Bank from SLB segment from Dec 2")
Leading stock exchange BSE today said it will exclude Dena Bank and Vijaya Bank from trading in the Securities Lending and Borrowing (SLB) segment with effect from December 2.
The SLB mechanism allows short-sellers to borrow securities for making delivery.
"...The scrip (Dena Bank and Vijaya Bank) shall not be available for trading in the SLB Segment with effect from, December 2, 2013 as these securities have ceased to fulfil eligibility criteria," BSE said in a circular.
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According to market regulator Securities and Exchange Board of India (Sebi) guidelines, shares with an average monthly trading turnover of Rs 100 crore or more in the previous six months are eligible for trading in SLB segment.
Besides, shares with market-wide position limit (which indicates the investors' interest in a share) of at least Rs 100 crore is also eligible for the inclusion in SLB scheme.