Hi
Has anyone ever seen a situation where the upper circuit is the same as yesterday’s close price?
That is what is happening with Sobhagya Mercantile right now
Does anyone have any idea why it’s happening
Essentially, Upper Circuit at 0% and Lower Circuit at -5%
It’s been happening continuously for the past 3 days
This is happening because the stock has been placed under Enhanced Surveillance Measure (ESM) by BSE. In Stage 1 of ESM, the stock has a 5% price band (or less if it is already under the band), meaning its price can fluctuate within 5% of the previous day’s closing price.more on this here
But here the upper circuit is at 0%
The lower circuit is at -5%
look, In the case of Sobhagya Mercantile Ltd, two limits are in effect: Stage 1 ESM and the Add-on Price Band. It is the Add-on Price Band that causes today’s upper price cap to match yesterday’s upper circuit.
According to BSE:
“Once a security reaches the respective price limit for a period, trading shall only be allowed within that prescribed price range. This limit will not be revised until the beginning of the next cycle (week/month/quarter), when new price limits are computed for the period.
The final upper daily price band will be the minimum of all individual upper price bands, and the final lower daily price band will be the maximum of all individual lower price bands. hope it clear things
For securities placed under the Add-on Price Band Framework:
- They remain in the framework for a minimum of 90 calendar days.
- They may move out if they no longer meet the framework criteria.
- Review for inclusion or exclusion of securities is carried out monthly.
Hope it clears things. 
A minimum of 90 days ?
Does that mean it will not go up for three months now ?