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

SEBI had asked the stock exchanges to consider shifting the securities of seven companies to normal trading category from restricted segment.

Created On: Apr 16, 2014 10:10 IST

Securities and Exchange Board of India (SEBI), the market watchdog on 15 April 2014 said that stock exchange may consider shifting securities of seven companies to normal trading category from restricted segment.

The seven companies that could be shifted includes
• Panorama Capital Market
• Noble Polymers
• Adarsh Mercantile
• Panafic Industrials
• Classic Global Finance and Capital
• Appu Marketing and Manufacturing
• Jackson Investments

The bourses may consider shifting these securities from the Trade for Trade Settlement (TFTS) to a Normal Rolling Settlement as these firms have established connectivity with both depositories – NSDL and CDSL. SEBI in a circular has advised the exchanges to report it the action taken in this regard in the monthly/quarterly development report.

The trade for trade segment is a restricted category and it doesn’t allow any speculative trading and delivery of shares and payment of the consideration amount is mandatory.

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