National Stock Exchange (NSE) has shortlisted 8 companies for surveillance action.
Targeted companies are ….
Dish TV India, Jindal Steel & Power, Gayatri Projects, Max India, Sadbhav Infrastructure Project Sequent Scientific, Future Enterprises & GMR Infrastructure.
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The exchange would collect minimum margin of 35 % on the respective shares, including on stocks in derivatives segment. The applicable rate of margin in equity and equity derivatives segment shall be 35 % cent or existing margin, whichever is higher with effect from 5th December, 2019.
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.
The stock exchange earlier planned to take extra Surveillance measures from 1st November in order to reduce volatility in stocks having higher levels of pledged shares by their promoters.
Under the framework, the exchanges would collect minimum margin of 35 % on the stock including stocks in derivatives segment where promoters pledged their holding by more than 25 % of the total equity capital and have a market capitalisation of over Rs 1,000 crore.