BSE to exclude 52 stocks from trading in SLB (The Securities Lending and Borrowing) segment including Oil India, Essar Oil & MRPL

BSE to exclude 52 stocks from trading in SLB (The Securities Lending and Borrowing) segment including Oil India, Essar Oil & MRPL

The BSE today said it will exclude 52 stocks including Oil India, Essar Oil and MRPL from trading in Securities Lending and Borrowing (SLB) segment with effect from September 28.

The Securities Lending and Borrowing (SLB) mechanism allows short sellers to borrow securities for making delivery.

Among other stocks, BEML, Bharat Electronics, Bosch, Fortis Healthcare, HCC, Jet Airways SpiceJet, TVS Motor Company, Tata Teleservices (Maharashtra) Ltd, Indian Bank and Max India, would not be available for trading in the SLB segment with effect from September 28, 2012, BSE said in a circular.

The National Stock Exchange had last week removed 51 stocks from its derivative segment.

Under SLB, securities can be borrowed for a period of seven days through a screen based order matching mechanism. The stocks in the future & option segment are eligible for SLB.
src-BS