https://www.taxtmi.com/circulars?id=58201 Rationalization tightens the Periodic Call Auction framework by defining illiquid scrips through a low average turnover measure applicable across all trading exchanges and prescribing exclusions based on market capitalization, dividend history, and a combined profitability, pledged promoter holding and book value test. Exchanges must keep a scrip in the auction for at least one quarter, provide at least two daily auction sessions with a uniform closing session, allow orders to remain valid all day and carry un matched orders into the next session, and implement systems and bye law amendments from the next quarter. en-us Thu, 19 Dec 2013 00:00:00 +0530 Wed, 12 Dec 2018 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58201 Rationalization tightens the Periodic Call Auction framework by defining illiquid scrips through a low average turnover measure applicable across all trading exchanges and prescribing exclusions based on market capitalization, dividend history, and a combined profitability, pledged promoter holding and book value test. Exchanges must keep a scrip in the auction for at least one quarter, provide at least two daily auction sessions with a uniform closing session, allow orders to remain valid all day and carry un matched orders into the next session, and implement systems and bye law amendments from the next quarter. Circulars SEBI Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58201