NEW DELHI, May 25: The Delhi Stock Exchange today announced that special margins would be fixed on all purchase positions in HCL Infosystems Limited, Videocon International and KLG Systel.It also stated that bad delivery transactions of H-Lon Hosiery Limited and Yogi Pharmacy would be closed at 20 per cent above the last traded price.
All purchase positions in HCL Infosystems would attract a special margin of 15 per cent, while that of Videocon International and KLG Systel would attract 30 per cent and 40 per cent special margin respectively on the purchase position outstanding. However, in case the margin was less than Rs 25,000, the margin amount payable would be nil. In case of the margin amount being equal to or exceeding Rs 25,000, then the entire margin was payable.
The jobbing done on the same day for the same client would also be exempted from the margin. This order, the sources said, has come into force with immediate effect and all trade done in the three scrips from today would be covered.The DSE has also asked the member brokers to calculate the margin and deposit it with the exchange.
Regarding the bad deliveries, the exchange has stated that all transactions of H-Lon Hosiery would be closed-out at 20 per cent above the last traded price of any major exchange where the business was last done. Keeping that in view, the close-out price was decided as Rs 2.40 as the last traded price on the Bombay Stock Exchange where the business was last done was Rs 2.The close-out price for Yogi Pharmacy has been fixed at Rs 2.80.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.