To check excessive volatility, stock exchange BSE today revised the circuit limit for share movement of 16 companies, including Cals Refineries.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a prescribed level during a session.
In a circular, the exchange said it has set a circuit limit of 10 per cent for Pudumjee Industries, Raj Rayon Industries and Neha International.
Besides, a limit of 5 per cent has been set for Cals Refineries, Sibar Auto Parts, Ador Multiproducts, Ind Bank Housing, Rathi Graphic Technologies, Acme Resources, ACE Software Exports, Indian Metals & Ferro Alloys, Agri-Tech (India) Ltd, Rajasthan Cylinders & Containers, Abhinav Leasing & Finance, ECS Biztech and Hindoostan Mills.
Circuit filter mechanism is used by stock exchanges to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
The circuit filters have been changed from their existing levels in the 16 scrips with effect from April 13.
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