Kochi, April 13: The Cochin Stock Exchange has got the Securities and Exchange Board of India's permission to introduce modified carryforward system subject to the conditions stipulated by the regulator. This makes CSE the first stock exchange in South India to get Sebi clearance for introducing the revised badla system.CSE president Oommen Issen told The Financial Express here on Monday that the bourse would kick-start the revised badla system in a couple of days. He said the exchange is in the process of working out the modalities and would finalise it shortly.
He said the exchange has to categorise the scrips into A group and B group. Besides, the bourse also has to decide about the number of scrips being included in each category. However, top sources in CSE said that the bourse is likely to confine the badla system initially to 15 to 20 A group scrips and later extend it to another dozen scrips.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
