Z category under SEBI glare
Mumbai: The Bull Run on the bourse is spilling over to stocks classified into the Z category by the Bombay Stock Exchange (BSE), according to reports. The odd movements in these stocks has upset the Securities and Exchange Board of India (Sebi) as some of them had been put in the Z category for showing abnormal pricemovements in the past. A study shows that 120 of the 283 traded stocks in the Z category resumed trading in August 2003 after lying dormant, for months in some cases.

In July, 40 stocks returned to the trading ring. In fact, the shares of only seven companies in this group have been trading daily since January 2003. Of the 283 Z-group stocks, as many as 67 scaled 52-week highs in August, while 52 recorded 52-week lows. Sebi sources were quoted as saying that the market watchdog is keeping close tabs on these scrips; the stock exchanges had also been asked to remain alert.
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