A rally in small-sized companies continued on the bourses, with over 950 stocks being locked at the upper circuit on the Bombay Stock Exchange (BSE) on Tuesday at 03:00 pm. Of the 3,973 stocks that were traded on the BSE, as many as 953 (one out of every four stocks) were locked in the upper circuit levels and these counters only saw buyers, the exchange data showed.
Of these, 78 per cent or 747 stocks are from the BSE T (87), X (240), XT (351) and Z (69) group. The equity securities of companies that are only listed/traded at BSE and satisfy certain parameters are classified into separate sub-segments called 'X', and 'XT'. At the time of the review, any securities falling in trade-for-trade segment (DT or T groups) are classified under 'XT' sub-segment, BSE said.
The 'T' group represents securities that are settled on a trade-to-trade basis as a surveillance measure. The 'Z' group includes companies, which have failed to comply with its listing requirements and/or have failed to resolve investor complaints and/or have not made the required arrangements with both the depositories, viz, Central Depository Services (CDSL) and National Securities Depository (NSDL) for dematerialization of their securities.
16 stocks – Riddhi Siddhi Gluco Biols, 20 Microns, Duncan Engineering, Betex India, Biofil Chemicals & Pharmaceuticals, Medi-Cap and Vaswani Industries -- are locked in the 20 per cent upper circuit on the BSE. A total of 23 stocks are frozen at the 10 per cent circuit, while, 655 stocks are locked in the 5 per cent circuit on the BSE, data showed.
Among individual stocks, Sacheta Metals was locked in the 5 per cent upper circuit at Rs 39.15 on the BSE. The stock of the company engaged in aluminium business was trading at its 52-week high level. In the past nine trading days, it has zoomed 126 per cent from level of Rs 17.30 on December 28, 2021.
The movement in the share price of the company is purely due to market conditions and absolutely market driven and the management is in no way connected with any such movement in price, Sacheta Metals had said in a clarification on the stock's price movement on January 5, 2022.
Share price of non-banking financial company (NBFC), KIFS Financial Services was frozen in the 10 per cent upper circuit of Rs 86.15. The stock has rallied 91 per cent in the past one week from level of Rs 45. Share price of Delta Manufacturing too was locked in the 5 per cent upper circuit at Rs 101, zooming 61 per cent in the last seven trading days.
Meanwhile, in the past one week, the stock prices of around 60 stocks have appreciated by more than 30 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.
| Security Group | Upper Circuit | Lower Circuit | Total |
| A | 8 | ||
| B | 148 | 157 | |
| M | 2 | 32 | |
| MS | 3 | ||
| MT | 7 | ||
| P | 1 | 17 | |
| R | 2 | ||
| T | 87 | 2 | 108 |
| X | 240 | 3 | 272 |
| XT | 351 | 80 | 431 |
| Z | 6 | 1 | 86 |
| Total | 953 | 170 | 1123 |
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