According to the bourses, all the four stocks are kept in the 10% price band to limit any upward or downward movement in their prices
National Stock Exchange (NSE) and BSE, the two leading bourses have decided to keep four companies Essar Oil, Suzlon Energy, Educomp and CORE Education in a fixed price band of 10% as part of their preventive surveillance measure.
According the NSE and BSE, the decision to limit any upward or downward movement in share prices of these four companies was taken in consultation with market regulator Securities and Exchange Board of India (SEBI). The price band would be applicable from 2nd April, the bourses said.
In separate notices, NSE and BSE said that a fixed price band of 10% on these four stocks is being imposed as part of a "preventive surveillance measure and to ensure market safety and safeguard the interest of the investors".
The dynamic price bands, generally referred to as dummy filters or operating range, prevent acceptance of orders for execution that are placed beyond the price limits set by the stock exchanges.
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