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Leading bourse BSE has revised the circuit limit for the shares of 13 companies, including Bengaluru-based public sector undertaking KIOCL Ltd, in order to curb excessive volatility.
The new limits, effective October 23, will ensure stock prices do not fluctuate beyond a prescribed level during a session.
A circuit limit of 10 per cent has been set for Saboo Sodium Chloro Ltd, Organic Coatings Ltd, Amulya Leasing & Finance Ltd, Welcast Steels Ltd, IFB Agro Industries Ltd, Hindustan Dorr-Oliver Ltd and PAE Ltd, according to a BSE notice.
Besides, a limit of 5 per cent has been set for KIOCL Ltd, 63 Moons Technologies Ltd, Innovassynth Investments Ltd, Agri-Tech (India) Ltd and Aditya Consumer Marketing Ltd.
Among the 13 firms, KIOCL Ltd commands the highest market capitalisation at Rs 17,138.22 crore while PAE Ltd has the lowest at Rs 12 crore.
Circuit filter mechanism is used by BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
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