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Leading stock exchange BSE has revised the circuit limits for shares of 549 companies including Kingfisher Airlines, L&T Finance Holdings, Uttam Galva Steels, as part of a surveillance action.
The revised circuit limits, which ensures that the price of a scrip cannot move upward or downward beyond the limit set for the day, would be effective from today.
The exchange has increased the circuit filter limit for some stocks while it has been reduced for others. The move is the BSE's surveillance measure taken to protect interest of investors.
BSE has raised the circuit limit for 66 firms, including Birla Pacific Medspa and East Coast Steel, to 5% from the existing 2% limit.
Also, it has widened the circuit limit of 169 companies including Kingfisher Airlines and United Breweries (Holdings), McDowell Holdings and D B Realty from 5% to 10%.
Besides, BSE has also increased circuit filter level for four firms such as Uttam Galva Steels and Manappuram Finance to 20% from five%. It has also increased the limit of 139 companies like Mangalore Chemicals & Fertilisers and L&T Finance Holdings to 20% from 10%.
The exchange has, however, lowered the circuit filter for a total of 165 companies.
BSE has narrowed the limit for six companies to 2% from 5%, reduced the filter level of 55 firms to 5% from 10% and also lowered the circuit limit for the remaining of 104 companies to 10% from 20%.
In a separate circular, NSE has set five% circuit limit for 243 companies, 10% for 134 firms and 20% for a total of 1,039 companies. However, there is a no price band for 162 firms.
Among the companies that would not not attract any circuit limit are Tata Group firms --Tata Chemicals, Tata Steel, Tata Power, TCS-- Reliance Industries and Bharti Airtel.
