I think 400% is not for every stock…
it is only for 20% capped stocks during 1st of OCT I believe.
If it is 5% capped stock during 1st of OCT. then its yearly limit is only 100%…
so in cupid case yearly cap would be 987.5 (by end of sept.2016)…
so in 10 months more than double means …I think it s very good and also one can go for thick allocation (fat pitch).
Caution:this Is only my opinion not recommendation.
Just spoke to Yogendra Daxini at BSE on the following phone number: 022-2272 5092 and he assured me that BSE is taking effective steps to rectify this error with a more suitable system and that it be out by early next month. Lets hope better sense prevails this time.
i clarified…hopefully now am clear. Yes, whatever is the circuit limit at sep 30 is what decides the quarterly gap. the quaterly/montly/weekly caps are increased if the circuit limit is increased but if the circuit is revised downwards, the price does not go down, it just does not move up. but in any case the stock cannot go up more than 400% in a year and this sucks
If anyone is Tracking Kellton, The UC is limited to yesterday’s closing 195.7, even though it went to 197 yesterday, and Daily down circuit also decreased to 5% from 10%.
can anyone tell me what is the criteria for decreasing the daily circuit from 10% to 5%???
Disc: invested
Yes, we are all in the opposition.
Good thing they did is that they added price bands on the website. At least
everyone can know where the end meet on weekly, monthly, quarterly and
yearly basis according to current circuit.
I strongly feel this restriction should be only for cos with m’cap below 1000 crs otherwise BSE will lose out
Hi Manoj Agarwal,
I too rang the BSE recently & was told the same thing - to write in to bse.surv@bseindia.com with my views. The BSE official mentioned that the same would be forwarded to the Surveillance heads & BSE top brass too.
I got the feeling that the BSE officials do realise that the additional periodic price band system is flawed, and are re-looking the same.
But whether they will junk it or tweak it remains to be seen. I well remember that they did not junk the Periodic Call Auction System , but tweaked the rules so that 90% of stocks escaped the net. Even today some 350+ stocks remain in the flawed PCAs system.
I am certainly expecting some action on this, as i’m sure BSE would realise by now that they have encouraged business to go to other exchanges (i pointed it out to them in my mail as well). A few companies have already initiated steps to list elsewhere.
Anyway, i would urge those who have not written in to the BSE as yet to please do so - only if you agree that the system needs to go, of course.
why should it be biased towards less than 1000cr? The rule should be same for everyone and for the record this rule is a royal dud in my books.If i had a few additional crores, i would have really taken advantage of this rule to gobble up a company as i now know what is the maximum amount i’ll have to cough up even if i have to go to the open offer route.
At least I liked the change that they now show all price cap at different level. Weekly/Monthly/Quarter and Yearly. It makes task easier to know what it can gain as max in a quarter.
I think BSE has lost the plot trying to put these artificial limitations on market . Better restrict such controls to penny stocks or mini cap stocks prone to manipulation ? find some method to restrict it to only such vulnerable stocks ?
Our collective efforts has borne fruit and good sense has prevailed on bse and they have issued the following notice effective 1st Feb:
This is in continuation to the Exchange notice no.20150806-24 dated August 06, 2015, Exchange Notice no.20150930-36 dated September 30, 2015 and Exchange notice no. 20151203-12 dated December 03, 2015, regarding Additional periodic Price Bands for the securities exclusively traded on BSE Trading Platform.
Trading members are hereby requested to note that securities categorized in Group A and Group B shall be excluded from the list of securities to which periodic price bands are applicable with effect from Monday February 01, 2016.
However, all other groups on the main board viz. T, P, Z, ZP, XC, XD, XT and securities listed on the SME and SME ITP platform shall continue to attract periodic price bands as per the provisions of the aforementioned notices.
link:
http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20160129-22
Thanks for the information. Though most small cap comes in T category.
True but atleast some relief. And T group should now have the incentive to come out of T group hopefully.
@ateek_balesaria As per BSE, criteria for changing daily price band is confidential and can be disclosed only to some authorities in this regard. So investors are clueless! suddenly a stock that is hitting upper circuits start falling because the upper cap is reduced to yesterday’s closing price due to reduction in daily price band. For investors, there is no way to know that this is going to hit them next morning!
Finally this rule has been scrapped by BSE from May 2
Can somebody help me find link for both nse and bse where can i find list of stocks whose circuit limits have been revised with effective date and change in limits ? Both from lower to higher and higher to lower ? It will be appreciated very much. Thank you in advance.
