Wockhardt, Mastek, SKS Micro in T2T group; stocks down
Shares of Wockhardt, Mastek and SKS Microfinance were witnessing sharp selling pressure on Tuesday as the BSE will be shifting them to the T2T segment.
By ET Bureau | Updated:
MUMBAI: Shares of Wockhardt, Mastek and SKS Microfinance were witnessing sharp selling pressure on Tuesday as the Bombay Stock Exchange will be shifting them to the trade-to-trade (T2T) segment.
The BSE will shift 74 stocks in the T2T segement effective from August 31, 2012 in order to take “preventive surveillance measure to ensure market safety and safeguard the interest of investors.”
Other stocks that will trade in the T2T segment include Heidelberg Cement India, Sonata Software, Ashapura Minechem, Fame India, Four Soft, Kale Consultants, Reliance Broadcast Network, etc.
According to the BSE website, “as a part of surveillance measure, the exchange transfers various scrips for settlement on a Trade-to-Trade basis. The said action is reviewed at periodic intervels (fortnightly & quarterly) based on market capitalization, price earnings ratio, price variation vis-à-vis the market movement, volatility, volume variation, client concentration and the number of non promoter shareholders, etc.
At 11:20 amm Wockhardt was down 5.19 per cent, Mastek fell 9.18 per cent, SKS Microfinance plunged 10.40 per cent, Ashapura Minechem was 4.96 per cent lower, Reliance Broadcast declined 4.49 per cent and Heidelberg Cement was down 2.50 per cent.
If a scrip is shifted for settlement on Trade-to-Trade basis, selling/ buying of shares in that scrip results into giving/ taking delivery of shares at the gross level and no intra day netting off/ square off facility is permitted.
The BSE will shift 74 stocks in the T2T segement effective from August 31, 2012 in order to take “preventive surveillance measure to ensure market safety and safeguard the interest of investors.”
Other stocks that will trade in the T2T segment include Heidelberg Cement India, Sonata Software, Ashapura Minechem, Fame India, Four Soft, Kale Consultants, Reliance Broadcast Network, etc.
According to the BSE website, “as a part of surveillance measure, the exchange transfers various scrips for settlement on a Trade-to-Trade basis. The said action is reviewed at periodic intervels (fortnightly & quarterly) based on market capitalization, price earnings ratio, price variation vis-à-vis the market movement, volatility, volume variation, client concentration and the number of non promoter shareholders, etc.
At 11:20 amm Wockhardt was down 5.19 per cent, Mastek fell 9.18 per cent, SKS Microfinance plunged 10.40 per cent, Ashapura Minechem was 4.96 per cent lower, Reliance Broadcast declined 4.49 per cent and Heidelberg Cement was down 2.50 per cent.
If a scrip is shifted for settlement on Trade-to-Trade basis, selling/ buying of shares in that scrip results into giving/ taking delivery of shares at the gross level and no intra day netting off/ square off facility is permitted.
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