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Wednesday, April 22, 2015

What is the criterion of putting the shares of some companies in the T-group for weeks?
I had earlier written many times about the "Brinkmanship" of the BSE and NSE officials when throwing stocks in the  T-group is concerned. Hence, this writing will be no different except, that I have put the same question at the end of this write up. 

You must be aware that the BSE and the NSE have a unique-group called T-group, where the stocks of some companies are kept for "Correction" not for days, but sometimes for months, so that their share price probably come to the level, which has been desired by the stock exchanges. The game is governed by some hidden protocols or no one except the stock exchanges officials or their "Friends"know, when a share of a company will come out of this Jail.

What is more interesting is that a particular stock starts to move up or fall down, much before the stock exchanges actually goes in for a formal declaration of putting in or bringing out of the T-group. Now, the question is who benefits from this exercise: obviously those who have insider information or those traders/investors who are in hand and glove, with some of the officials of the surveillance department. Isn't it? 

Look at the volume of some of the shares traded in the T-group: 
(i) Genera Agri Crop Ltd (Rs.4.62)--6843 shares
(ii) Rasoya Proteins (Face Value: Re.1; CMP:Re.0.56)--12.41 lakh shares
(iii) ABL Biotech (Rs.4.75)--0.25 lakh shares
(iii) Alka Diamond (Rs.19)--2 shares
(iv) AI Champdany (Rs.17)--100 shares
(v)  Alpha Hi-Tech (Re.0.76)--700 sahres
(vi) Birla Capital (Face Value: Rs.2; CMP: Re.0.56)--4500 shares
(vii) BKV Industries (Face Value: Re.1; CMP: Rs.3.09)--346 shares
(viii) Bhagwati Oxygen (Rs.48.60)---260
(ix) Bihar Sponge (Rs.3.02)--0.18 lakh shares
(x) Bhagwandas Metal (Rs.8.95)--200 shares and so on.....

I really do not understand the logic of keeping all these shares in the T-group (and many others whose  name do not figure in the above list), for such a long time. This move punctures the shareholders' wealth and should be treated as an economic offence (strictly speaking). 

Anyway, really, pathetic is the management of the Indian Stock Exchanges and therefore, many of the small and mid caps are still trading near their 52-week lows, even when the Nifty and Sensex is near their all-time high.

Will the stock exchanges clarify on what basis a stock is pushed in the T-group and then taken out....?
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