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Sunday, Jan 04, 2004

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BSE to impose penalty for exceeding limits

Our Bureau

MUMBAI: THE BSE has decided to impose penalty on stockbrokers in case they exceed the limits in individual stocks in Z group.

If a member exceeds the limit of Rs 25 lakh in a single Z group scrip in a single rolling settlement or Rs 100 lakh in all Z group scrips in a single rolling settlement, a fine of Rs 5,000 will be levied on every instance of violation

For T group (trade-to-trade) segment, it will impose a special ad hoc margin of 25 per cent in case a member takes positions between Rs 100 lakh and Rs 200 lakh. The number of stocks in T group is around 172.

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