New Delhi, Apr 9 (PTI) Leading exchange BSE has revised the circuit limit for the shares of five companies to curb excessive volatility in their prices.
The firms are Responsive Industries, Sumeet Industries, Escorts Finance, Alliance Integrated Metaliks and SC Agrotech.
The new limits, effective tomorrow, will ensure stock prices do not fluctuate beyond a prescribed level during a session.
In a notice, BSE said trading members of the exchange are hereby informed that the price band has been changed from their existing levels in five scrips with effect from April 10, 2018.
As per the notice, a circuit limit of 10 per cent has been set for Responsive Industries and 5 per cent for Sumeet Industries.
Besides, a limit of 2 per cent has been set for Escorts Finance, Alliance Integrated Metaliks and SC Agrotech.
Among the firms, Responsive Industries commands the highest market capitalisation (m-cap) with Rs 1,573.45 crore and SC Agrotech lowest with Rs 1.99 crore.
The m-cap of Sumeet Industries stands at Rs 160.44 crore, Alliance Integrated Metaliks at Rs 139.16 crore and Escorts Finance at Rs 24.87 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.
This is published unedited from the PTI feed.