The Hindu Business Line : BSE to add 50 more cos to `Z' group under new criterion

IN an effort to avoid investors getting lured to company's shares that have weak financials, BSE has decided to add one more criterion for shifting companies to Z group.

The additional criterion is companies that are fundamentally weak in terms of net worth, sales, market capitalisation and profitability.

As part of this, BSE has decided to shift 50 companies into `Z' group from 19th January 2004, BSE statement said on Monday.

Initially Z group was created to warn small investors who may get lured into investment of securities of companies, which are primarily non compliant with listing agreement. Subsequently, the exchange also started transferring securities into Z group as a measure of surveillance action. Further, the companies, which have not dematerialised their securities by entering into an agreement with CDSL or NSDL, were also shifted to Z group.

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