The National Stock Exchange (NSE) on Thursday announced that it will place stocks under the additional surveillance mechanism if there is a wide variation in their high and low prices, if trades display concentrated ownership, and on the frequency of prices hitting upper and lower limits.
NSE said 16 stocks will be placed under the advanced surveillance mechanism from Monday. It has tightened the price band to 5% and has sought 100% margin for executing trades in these stocks.
Stocks that have been put under surveillance include Gitanjali Gems
, GTL Infrastructure, Bombay Rayon Fashions, and Electrosteel Steels.
The NSE will not permit intraday positions in these stocks if trades meet these preset criteria, the circular said.
Austral Coke and Projects, Bil Energy Systems, FCS Software Solutions, Goenka Diamond and Jewels, The Grob Tea Co, KSS, LCC Infotech, Lloyds Steels Industries, Uttam Value Steels, Visesh Infotecnics, and Ramgopal Polytex Ltd are the other stocks that will be put under additional surveillance come Monday.