BSE and NSE have decided to move scrips of several companies to the restricted trading category from August 19 as a measure to safeguard the interest of the investors in the securities market. BSE would transfer 25 stocks to the trade-for-trade segment, or the ?T? Group, while NSE would transfer seven scrips to this category, the bourses said in separate notifications. Some of the firms which would be shifted to the segment on both the stock exchanges are Cura Technologies, Delta Magnets, Farmax India, Mukand, Southern Ispat and Energy, Nitesh Estates and JD Orgochem. In the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory. As per BSE and NSE, the move is part of the surveillance review ?to ensure market safety and safeguard the interest of investors?.
Macquarie cuts banks, cites low growth, weak rupee
Macquarie downgraded banks to ?underweight? from ?neutral?, citing an extended period of low growth till the general elections in April/May 2014 and rupee weakness reducing leeway for monetary easing. The brokerage cut State Bank of India to ?neutral? from ?outperform?, Punjab National Bank to ?underperform? from ?neutral?. It upgraded Kotak Mahindra Bank to ?outperform? from ?neutral?.
