BSE to keep 23 cos under enhanced surveillance

Leading bourse BSE will move 23 firms to the restricted trading category and keep them under enhanced surveillance from April 10.
Shares of these companies will be moved to the trade- to-trade segment under Stage 1 of the Graded Surveillance Measure (GSM).
In the first stage, the scrip is moved to the "trade for trade" segment with the permitted price band of five per cent or lower as applicable.
Adarsh Plant Protect, Blue Cloud Softech Solutions, Indra Industries, Jindal Capital, LKP Securities, Nagarjuna Agri Tech, Prima Agro, Shivagrico Implements, TRC Financial Services, V R Woodart and Kore Foods are among the 23 firms to be placed under enhanced surveillance.

In a circular, the exchange said that trading in the shares of these companies would be shifted to trade-to-trade settlement mode from April 10 or continue to remain in trade-to-trade settlement mode.
Trading members are requested to take adequate precaution while trading in the above securities, as the settlement shall be done on trade-to-trade basis and no netting off shall be allowed, the exchange said.
Last month, BSE had decided to keep 774 companies under GSM framework in order to check any abnormal rise in stock price that do not commensurate with the firms' financial health.