The Hindu Business Line : 54 stocks shifted from trade-to-trade to normal market

IN yet another surprise move, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have decided to shift several securities from trade-to-trade (T) segment to the normal market, reversing their step taken earlier this month.

As per the revised changes, 20 securities on NSE and 34 securities on BSE have been shifted back to the normal market.

Some of the stocks shifted to the normal market include Sundram Fasteners, TV 18, Lupin, TVS Motors, Gujarat Gas, Noida Toll Bridge. Other stocks that have also been removed include Aegis Logistics, Grand Foundry, Rajesh Exports, Shreyas Shipping, Sound Craft Industries, Aftek Infosys, BSEL Infrastructure, Parry's Confectionery, TVS Motors, GTL, JBF Industries, Praj Industries, Shree Rama Multitech, and Essar Oil.

These securities will start trading in normal market from March 25.

In a notice to its members, the exchanges said this action has been taken to ensure safety and safeguard the interest of investors as part of the surveillance review and pursuant to SEBI meeting.

Brokers said the decision of the stock exchanges to shift these securities to T group resulted in stock price of the companies falling sharply. The fall was mainly due to lack of interest of market players in these securities, as netting facility was not available. More than the price, there was sharp fall in the volume in these securities both on BSE and NSE.

However, after the revised changes, brokers said the interest in these securities will be back and when the market opens on Monday, the stock price of most of the stocks (shifted back to normal market) to go up. They said volumes are also expected to increase from March 25.

NSE and BSE have also moved Oudh Sugar, Upper Ganges Sugar & Industries to T group from March 25 and securities of Media Video will continue to trade in T segment. Other securities shifted to T group by BSE include Amtek India, Doctors Biotech and Indo-City Infotech.

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