Of the four scrips, the rise in the Media Video scrip is probably the most spectacular. From its September 22 level of Rs 6.50, on Monday, the scrip touched a high of Rs 141.50. However, despite the market frenzy, at the end of the day, it closed on the lower circuit level of Rs 120.70, the previous close being Rs 131.15.

In terms of trading volumes on the BSE, on Monday, the scrip even beat Hughes Software. Against Hughes turnover of Rs 3.50 crore from around 8000 shares, the Media Video counter clocked a turnover of Rs 4.81 crore from 3.81 lakh shares.

However, it is Alps Infosys which topped the turnover list on the BSE at Rs 8.33 crore from 17.64 lakh shares. From its October 15 level of Rs 12.70, the scrip touched a high of Rs 51.85 on Monday, but closed at the lower circuit level of Rs 44.25 against its December 30 close of Rs 48.05.

Cauvery Software has risen from Rs 9 on November 26 to Rs 23.75, with a record volume of 6.86 lakh shares on December 8. Sawaca Finance, the fourth scrip in the list, was rarely traded on the bourse till last October.

However, the scrip began its ascent from its October 26 level of Rs 6.80 and on Monday, it closed at Rs 35.

Of late, the BSE has been warning investors as well as its members to be on the guard against some B2 and Z category stocks, which generally have low market capitalisation and poor liquidity. The suspension of trading in the four scrips comes close on the heels of the bourse's decision to suspend trading in the shares of Nexus Software, Bobshell Electrodes and Softrack Venture Investment.

BSE, in a letter to its members on December 30, has also cautioned them and asked them to inform their clients, ``to check the fundamentals of a company before investing in it, particularly those which may have changed their names and objects clause, to reflect that they belong to the software industry.'' It further added that ``The clients may also be cautioned not to be misled by rumours, unconfirmed news reports etc.''

Interestingly, it was recently found by an investigation team of the exchange that the Vadodara-based Nexus Software has actually closed its registered office without any trace.

The letter also asks the members of the exchange that ``In case of clients' orders for sales for delivery which are not proportional to their normal level of trading, the members are advised to check the same for fake/forged/lost/stolen shares before executing the order.''

BSE has suspended trading in Softrak Venture indefinitely from December 27 onwards, after it was informed of some duplicate shares certificates being introduced and were in circulation in the market. In case of Bobshell, the exchange was informed that certain promoters' quota shares of the company, which were under the lock-in till June 2000, have been introduced in the market and are in circulation.