Leading stock exchange BSE today revised the circuit limits--a range that stocks can trade in-- for United Spirits Ltd and 18 other companies, as part of surveillance action.
The new limits, which ensure that stock prices do not go up or down beyond a level during a trading session, will be effective from tomorrow.
BSE said in a circular that the price of United Spirits, now controlled by London-based Diageo, can not change by more than 20 per cent in a day.
Also, United Spirits will be replaced by Zee Entertainment Enterprises in the National Stock Exchange's benchmark index Nifty from tomorrow.
Last month, BSE and National Stock Exchange (NSE) had announced that they will drop United Spirits from futures and options segment as the company failed to submit financial results for the year ended March 31, 2014 and quarter ended June 30, 2014 as required under Clause 41 of the listing agreement.
"No future and option (F&O) contract on the United Spirits scrip shall be available for trading on equity derivative segment of the exchange with effect from September 19, 2014 onwards," the exchanges had said.
Apart from United Spirits, BSE has set an upper limit of 10 per cent for Capital Trust, Omega Ag-Seeds Punjab, UV Boards, JK Tyre & Industries, Hipolin, Piramal Phytocare and Intrasoft Technologies.
While the limits for Comfort Commotrade, Rollatainers, Rane Engine Valve, Syncom Healthcare, Welspun Projects, Yashraj Containeurs, Kay Power and Paper, EPIC Energy, Raunaq Automotive Components, T & I Global and Saksoft has been set at 5 per cent.
"...The circuit filters has/have been changed from their existing levels in these scrips with effect from September 19, 2014," BSE said.
