Business Daily from THE HINDU group of publications
Monday, Jul 07, 2008
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Business Daily from THE HINDU group of publications Monday, Jul 07, 2008 ePaper | Mobile/PDA Version | Audio |
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Stock Markets Markets - Stocks Our Bureau
Mumbai, July 6 Crisil Ltd, GlaxoSmithkline Consumer Healthcare, State Bank of Bikaner & Jaipur Asian Hotels, Maharashtra Scooters, Force Motors, Salora International, Samtel (India) Ltd, Banswara Syntex, and Titagarh Industries are among the list of illiquid shares identified by stock exchanges in June. The list of illiquid shares were drawn according to a directive from captial market regualator SEBI (Securities and Exchange Board of India) and selected on the basis of the criteria jointly agreed between Bombay Stock Exchange, National Stock Exchange and SEBI, said a circular issued by BSE and NSE on Friday. The BSE has come out with a list of 1,585 illiquid securities and NSE 304 shares. Some of the shares are listed on both NSE and BSE. The list of NSE includes prominent companies such as Apar Industries Ltd, Godfrey Phillips India Ltd, Gokaldas Exports Ltd, Indiabulls Retail Services Ltd, Shopper’s Stop Ltd, Macmillan India Ltd, and Surana Industries. Volume is an indicator of the liquidity in a stock. Highly liquid stocks can be traded in large batches with low transaction costs. Illiquid stocks trade infrequently and large sales often cause the price to rise/fall dramatically. Illiquid stocks tend to carry large spreads – the difference between the buying price and the selling price. There are also listed mutual fund schemes that figure among the list of illiquid securities. These include Franklin Templeton Capital Protection Oriented Fund, Franklin Templeton Mutual Fund-Capital Safety Fund Schemes, and Benchmark Mutual Fund - PSU Bank Benchmark Exchange Traded Scheme among others. “Trading members are advised to exercise additional due diligence while trading in these securities, either on own account or on behalf of their clients,” said the BSE circular issued late on Friday evening. “The list will be reviewed on a monthly basis,” the circular said. More Stories on : Stock Markets | Stocks
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