I have 300 shares of Darshan orna. Trading in this company’s shares is banned. This company is listed in BSE. though trading in this stock is not possible, daily rates of this stock is available and it changes daily as if it is being traded. How can I get rid of the shares of Darshan orna?
I checked money control on Darshana orna. It seems that there is buy/sell of shares in this counter. The volume though is low at 3,791. Market Depth also indicates a small group of people willing to buy/sell the shares. Hence not clear with your query as to why you cannot sell shares if you have the same in your demat account.
As per tickertape website, this stock is under ASM List.
ASM is Additional Surveillance Measures. It is a new category formulated by SEBI to check market manipulation. High-risk stocks are placed under ASM list.
- Intraday trading in ASM listed stock will be very difficult. Trader dealing in such stocks have to deposit 100% margin, and these counters attract 5% circuit filter. This means stock price in such stock cannot go up or down by more than 5%. This means traders have limited profit or losses.
- One can sell shares if it is lying in the demat account.
- For investor it is bad news. Due to negative bias, these type of stocks are likely to fall. Existing investors profit will be negatively impacted.
- If you are long-term investors you need not worry about such short-term fluctuation or negative news.
The ASM measures helps uninformed investor as it reduce speculation in the stock market.
(copied from money excel - do note that the article is an old one 9 jun 18, but you will get the concept).
Hope this helps.
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Thanks a lot