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BSE to lower stock circuit limit of 12 firms from Wednesday

Bourse lowers circuit limit after a dozen mid-cap and small-cap shares crashed on Monday
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First Published: Tue, Feb 26 2013. 11 02 PM IST
BSE has capped the maximum movement in a day at 10% for five stocks, including Aanjaneya Lifecare, Bhagwati Banquets and Hotels, Gemini Communications and Sudar Industries. Photo: Mint
BSE has capped the maximum movement in a day at 10% for five stocks, including Aanjaneya Lifecare, Bhagwati Banquets and Hotels, Gemini Communications and Sudar Industries. Photo: Mint
Mumbai: The BSE on Tuesday decided to lower circuit limit of stocks of 12 companies, including those which were hammered in the mid-cap crash on Monday.
The changes will be effective from Wednesday, BSE said in a circular.
BSE has capped the maximum movement in a day at 10% for five stocks, including Aanjaneya Lifecare, Bhagwati Banquets and Hotels, Gemini Communications and Sudar Industries.
Besides, companies such as DB Realty, 7Seas Technologies, Bhoruka Aluminium, Broadcast Initiatives, Vardhman Polytex and W.H. Brady and Co. Ltd will be allowed an upward or downward movement of 5% in day.
BSE also said circuit limit of Jolly Plastic Industries will be 2%.
Exchanges lower the circuit filter of a stock as part of their surveillance mechanism to avoid excessive volatility in the share price.
On Monday, about a dozen mid-cap and small-cap shares crashed, including Aanjaneya Lifecare which fell 20%, prompting market regulator Securities and Exchange Board of India (Sebi) to initiate a probe into panic selling triggered by speculation that pledged shares are being sold by certain entities.
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First Published: Tue, Feb 26 2013. 11 02 PM IST
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