BSE Resets Circuit Limit Of Jindal Saw, 9 Others

BSE Resets Circuit Limit Of Jindal Saw, 9 Others
New Delhi: To curb excess volatility, leading stock exchange BSE on Thursday tweaked the circuit limit for share movement of 10 companies, including Jindal Saw.

The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a level during a session.

Circuit filter mechanism is used by stock exchanges to keep excessive volatility in check. It is the maximum fluctuation that is allowed during trading, which gets suspended if the permissible limit is hit in either direction.

In a circular, the exchange said it has set a circuit limit of 20 per cent for Jindal Saw.

It has also fixed a limit of 10 per cent for Elpro International, Galaxy Entertainment Corporation, Arihant Capital Markets, STL Global and Mahamaya Steel Industries.

A limit of 5 per cent has also been set for Binny Ltd, Atharv Enterprises and Aptech Ltd.

For Nova Iron & Steel Ltd, the limit is set at 2 per cent. “Trading members of the exchange are hereby informed that the circuit filters has/have been changed from their existing levels… in the scrips (10) with effect from September 9, 2016,” BSE said.