The Bombay Stock Exchange has stepped in to check a sharp surge over the past few days in the shares of 12 companies, including domestic brokerage firm IL&FS Investsmart, and have restricted their movements within a range of 5 to 10 per cent.The change in this circuit levels would come into effect from Friday. The circuit limit for IL&FS Investsmart has been revised to 10 per cent from its earlier level of 20 per cent.
As per the revised circuit limits, IL&FS Investsmart's upper limit has been fixed at Rs 342.80, while its lower limit stands at Rs 280.50. Shares of IL&FS Investsmart on Friday hit its new circuit limit of 10 per cent and were trading at Rs 342.80 in the afternoon trade.
Circuit limits of HB Estate Developers [Get Quote], Uniroyal Industries, CCAP, IVP and Pudumjee Pulp & Paper Mills have also been revised to 10 per cent from its earlier limit of 20 per cent.
Besides, the above mentioned scrips, circuit limits of OCL India [Get Quote], Delton Cables [Get Quote], Usha Martin [Get Quote], Rasi Electrodes [Get Quote], Cambridge Technology Enterprises [Get Quote], Consolidated Securities [Get Quote] has been revised to 5 per cent from earlier level of 10 per cent.
The revised circuits limits of OCL India are Rs 316.25 on the upper side and Rs 286.15 on the lower end. In the case of Usha Martin, they stand at Rs 138.30 and Rs 125.20 respectively. The scrip of OCL India hit its revised circuit limit of 5 per cent and was trading at Rs 316.25 on BSE in afternoon trade.
Under circuit filter, the stock price of a company can go up or down by the set percentage limit. This ensures that there is no unusual volatility in the market, which may cause panic among investors.
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