NSE Identifies Eight Companies For Surveillance Action
The exchange would levy a minimum margin of 35 percent on the respective shares, including on stocks in the derivatives segment.
"The applicable rate of margin in equity and equity derivatives segment shall be 35 percent or existing margin, whichever is higher with effect from Dec. 5 on all open positions as on Dec. 4 and new positions created from Dec. 5," the bourse said.
It also noted that shortlisting of securities under this surveillance measure is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.
In October, stock exchanges decided to take additional surveillance measures from Nov. 1 in order to reduce volatility in stocks having higher levels of pledged shares by their promoters.
Under the framework, the exchanges would levy minimum margin of 35 percent on the stock (including stocks in derivatives segment) where promoters pledged their holding by more than 25 percent of the total equity capital and have a market capitalisation of over Rs 1,000 crore.