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Wednesday, September 16, 1998

DSE modifies specified list

PRESS TRUST OF INDIA  
NEW DELHI, SEPT 15: The Delhi Stock Exchange (DSE) has revamped its specified list by replacing 15 low volume shares with ones that are highly active on the other major stock exchanges.

The replaced scrips include DCM, CESC, Hindustan Motors, ICI and Ceat while the new entrants are Pentafour, Cadbury, Britannia Industries, Zee Telefilms and Smithkline Beecham Pharma, DSE president Deepak Choudhry told PTI today.

This major change in the specified share list comes close on the heels of other major bourses deciding to change their `A' group lists to improve turnover and liquidity.

The revamp follows a decision on Saturday by a committee of the DSE to drop inactive shares and include high volume scrips to shore up turnover in the exchange.

Choudhry, who heads the committee, said selection of new scrips were made on the basis of liquidity, track record and investors' interest in Delhi and other major bourses of the country where these were being traded heavily.

He said the change made in specifiedsection was the third in recent times. It had increased from 33 scrips to 58 and thereafter to 121 scrips practically covering almost all industry segments. ``With the induction of these new heavily traded shares, the turnover of the exchange would go up manifold,'' Choudhry said but clarified that the new scrips would not add to the weightage of the DSE Sensitive Index.

He said shares like Zee Telefilms, Cochin Refineries, Dabur India, Rolta India, Punjab Tractors, Thermax and Wartsila NSD were promoted to specified section in view of hectic trading and rising value in day-to-day trading.

Others included in the specified section, Pentafour Software, Cadbury, Britannia Industries, Smithkline Beecham Pharma, BFL Software, Wockhardt, Wipro and Orchid Chemicals, are highly active on the BSE and NSE.

Scrips removed from the list are: DCM Ltd, JCT Ltd., UTI Masterplus, UTI Mastergain, Essar Shipping, CESC, Orkay, BOC India, Nicholas Piramal, Sesa Goa, Ceat, ICI, Jayshree Tea, Cipla and HindustanMotors.

Choudhry said the exchange also added nine more shares in the list of badla trading from next settlement beginning on September 19, taking the badla list at DSE to 40. The new shares are: Pentafour Software, Zee Telefilms, BHEL, Software Solution, Carrier Aircon, Hero Honda, NIIT, Infosys Tech and Bata India.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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