BSE shunts 17 companies to Z Group for non-compliance

From May 29, 2017, 17 scrips will be transferred to the ‘Z’ group on BSE platform. BSE will shift stocks of these firms to restricted trading category for not complying with listing rules, according to a news story printed on a leading national daily on Monday morning. 
 
The stocks which are going to be transfer include Birla Capital and Financial Services, Birla Transasia Carpets, Dhanalaxmi Roto Spinners, Gangotri Textiles, Hindustan Hardy Spicer, Jay Energy and S Energies, Kernex Microsystems India, Koa Tools India, Krishana Fabrics, Orbit Corporation, Rajdarshan Industries and Ratnamani Agro Industries.

Trades in these scrips executed in the Z group will be settled on trade for trade basis. These stocks have been transferred due to non-compliances for two consecutive quarters i.e. December 2016 and March 2017 for the Regulation 27(2) of SEBI Regulation, 2015. 

BSE’s Z group includes companies that have failed to comply with the listing requirements and/ or have failed to resolve investor complaints and/ or have not made the required arrangements with the depositories — CDSL and NSDL — for dematerialisation of their securities.