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BSE revises circuit limit of Videocon Industries, 4 others

LiveMint logoLiveMint 28-05-2017 PTI

New Delhi: In order to curb excessive volatility, leading bourse BSE has revised the circuit limit for shares of five companies.

The new limits, which were changed on 26 May, will be effective from 29 May and ensure stock prices do not fluctuate beyond a prescribed level during a session.

A circuit limit of 5% has been set for Videocon Industries, as per a BSE notice. Shares of Videocon Industries have plunged almost 53% in the last five trading sessions amid reports of loan repayment worries. The five-day decline has eroded Rs1,777 crore from the company’s market valuation which now stands at Rs1,581.99 crore.

Besides, the exchange has set a circuit limit of 10% for MBL Infrastructures, Visagar Polytex, Trend Electronics and Shri Krishna Prasadam. MBL Infrastructures commands a market capitalisation of Rs107.16 crore followed by Visagar Polytex at Rs32.01 crore, Trend Electronics at Rs10.84 crore and Shri Krishna Prasadam at Rs8.25 crore.

Circuit filter mechanism is used by BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day. The circuit filters will be changed from their existing levels in the four scrips with effect from 29 May.

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