BSE introduces new surveillance measure to curb volatility in mid, small cap stocks

To curb excessive volatility in mid and small cap counters, the BSE has introduced a new surveillance measure for certain stocks having a market capitalisation of less than 1,000 crore. The new measure, add-on price band framework, will be applicable to companies with a market-capitalisation of less than1,000 crore and on securities in groups — X, XT, Z, ZP, ZY, and Y, BSE said in a circular on Wednesday. Under the framework, BSE said “the shortlisted securities, will have 6 monthly, 1 yearly, 2 yearly and 3 yearly price band in place of weekly, monthly, quarterly price band”.