We had been writing about how Period Call Auction for Illiquid Scrips was anti investor in this article https://www.nooreshtech.co.in/2013/04/periodic-call-auctions-for-illiquid-stocks-sebi-anti-investor.html
Even had put up my view when asked by Economic Times in this article
Many articles, protests, complaints and finally SEBI has almost pulled out the periodic call auction.
Can see the full document here
The major clause modification which makes most of the stocks from illiquid to liquid are as below.
b) Of the scrips identified as per above criteria, scrips which satisfy
any of the following conditions shall be excluded.
Scrips with average market capitalization more than Rs.10Cr.
ii. Scrips where company is paying dividend in at least two out of
last three years.
iii. Scrips where company is profitable in at least 2 out of last 3
years, and not more than 20% of promoters shareholding is
pledged in the latest quarter and book value is 3 times or more
than the face value.
Can check the full document
Rationalization of Periodic Call Auction for Illiquid Scrips.
Book Recommendation
Continuing with the book recommendations as in previous posts and to get some e vouchers as an affiliate below are a couple of books am looking forward to read. Already ordered the checklist manifesto by Atul Gawande and next in list is Thinking Fast and Slow by Daniel Kahnemann
Thanks and Regards,
Nooresh Merani
Twitter – https://twitter.com/nooreshtech
Facebook – https://www.facebook.com/nooreshtech
Nooresh Merani - An IT engineer by qualification and Advisor/Trainer by profession.