He said these 51 scrips did not fulfill the criteria fixed by the exchange itself to remain in the specified group. Their market capitalisation had come down and trading volume was also low. A number of them were being traded below their par value, he added.

With the exclusion of these scrips, the specified list at CSE would now have only 73 scrips, he said and added that the decision would come into effect from hand delivery settlement No. 9900135 commencing from November 19.

The CSE members were informed that no carry forward trade would be allowed in these excluded scrips and they would have to square their carry forward position before the cut off date of November 19, Choudhary added.

Incidentally, CSE had included 73 scripsin its specified group stable less than a year ago and at that time market watchdog, SEBI, had reportedly sought explanation for the decision.

Asked whether the decision to exclude these shares would have any adverse effect, Choudhary answered in the negative. What kind of effect can be expected from those scrips which did not have any volume, he said.

Some of the excluded `A' group scrips are: Andrew Yule, Apollo Tyres, Ashok Leyland, Asian Paints, Bank of Baroda, BoI, Bharat Commerce, BHEL, Birla Corp, Bombay Dyeing, Britannia Industries and CMC Limited.