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BSE restricts daily price movement of Oil India, five other firms

BSE restricts daily price movement of Oil India, five other firms

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Mumbai:

The Bombay Stock Exchange (BSE) today said it has restricted the price movement for six companies including Oil India and Engineers India to a maximum of 20 per cent a day as part of its surveillance measures.

The shares of these companies are now allowed an upward or downward movement of a maximum of 20 per cent in a day, BSE said in a circular. The changes would be effective from tomorrow, it added.

Besides, other scrips that would attract a circuit filter of 20 per cent are Shipping Corporation Of India, Bharat Electronics, Container Corporation of India, National Aluminium Company.

The exchanges set the circuit filter of a stock as partof their surveillance mechanism in order avoid to excessive volatility in the particular share price.

Story first published on: December 03, 2012 19:52 (IST)

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