April 16, 2014 9:00 AM

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Securities of 7 firms to be moved from restricted to normal trading category: SEBI

Market watchdog, Securities and Exchange Board of India (SEBI) on Tuesday said stock exchanges may consider shifting securities of seven companies, including Noble Polymers and Adarsh Mercantile, to normal trading category from the restricted segment as the firms have established connectivity with the depositories. The seven companies which could be shifted are: Panorama Capital Market, Noble Polymers, Adarsh Mercantile, Panafic Industrials, Classic Global Finance and Capital, Appu Marketing and Manufacturing and Jackson Investments. The SEBI said that bourses "may consider shifting" these securities from the 'Trade for Trade Settlement' to a 'Normal Rolling Settlement' as these firms have established connectivity with both depositories- NSDL and CDSL. The 'trade for trade' segment is a restricted category, wherein, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory. In a circular issued on Tuesday, the regulator has advised the exchanges to report to it the action taken in this regard in the monthly/quarterly development report.

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