BSE resets circuit limit of Paramount Communications, 8 others

To check excessive volatility, stock exchange BSE today revised the circuit limit for share movement of Paramount Communications and eight other firms.

The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a prescribed level during a session.

In a circular, the exchange said it has set a circuit limit of 10 per cent for Paramount Communications.

The circuit filter mechanism is used by stock exchanges to keep excessive volatility for a scrip in check. It is the maximum fluctuation that is allowed in a stock.

Apart from Paramount Communications, the exchange has set a limit of 20 per cent for Mauria Udyog Ltd.

It has also fixed a limit of 10 per cent for SVP Global Ventures, Dollex Industries, Wallfort Financial Services, Vaibhav Global and PBA Infrastructure

A limit of 5 per cent has been set for Aanchal Ispat and Ferro Alloys Corporation.

The circuit filters have been changed from their existing levels in the nine scrips with effect from February 10.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)