Stock Exchanges removed 39 stocks out of Enhanced Surveillance Measure framework
The stock exchanges have removed 39 small cap stocks from the Enhanced Surveillance Measure [ESM] framework with effective from January 29, 2024.
New Delhi: According to the circular issued by the stock exchange market the small-cap securities stock such as Rajoo Engineers, Brand Concepts, Modern Insulators, BPL, Mirc Electronics, Shreyans Industries and Aban offshore, among others, are included in the list of stocks that will no longer be part of ESM framework.
The ESM framework was introduced in 2023 for highly volatile micro-small companies. These are the companies with a market cap of less than Rs 500 crore. As per SEBI, high-low price variation and close-to-close price variation are the parameters used to shortlist securities under this framework.Read Also : THDCIL conferred with prestigious 1st Prize for ‘Advancement in Green Mobility
The Enhanced Surveillance Measure is a regulatory framework implemented by the NSE.
Stocks under Stage I and Stage II of ESM are settled through a trade-for-trade mechanism with a 100% margin. In July, the stock exchange revised the rules and allowed stocks under ESM Stage-II to trade on all days in place of once a week. The derivative products of public sector entities will be also excluded from the surveillance guidelines.
Read Also : MECL Drills Past Remarkable Milestone, Surpasses 3 Lakh Meters of Exploratory Drilling
Three stocks Bombay Wire Ropes, Digidrive Distributors and Parshwanath Corporation have been included while, Rudra Global Infra Product, GP Petroleum, Kanoria Energy, Signet Industries, Bemco Hydraulics, Samrat Forgings and Amba Enterprises are excluded from the ESM framework.Read Also : HPCL and Birmingham University join hands
News Must Read
- Cyber Frauds: Kotak Mahindra Employees arrested for opening 2,000 fraudulent accounts
- Grid India Wins Rs. 272.68 Cr NBCC E-Auction for 61,000 Sqft in Ayurvigyan Nagar
- M Shyamprasad Kamath will lead MRPL as MD
- SJVN CMD laid foundation stone of Office building at Dam Site of 210 MW Luhri Stage-1 HEP
- Paytm Payments Bank appoints Srinivasan Sridhar; Vijay Shekhar Sharma resigns
- Beautiful Images of Sudarshan Setu; Connecting Okha mainland and Beyt Dwarka island
- Minister Hardeep Singh Puri inaugurates IndianOil’s PNG project
- SJVN Subsidiary inks Power Usage Agreement with JKPCL
- NTPC-REL First Solar Project begins operations
- If India succeeds, SDGs will succeed: Hardeep S Puri at UNGCNI National Convention