Description

BSE announces movement of 18 securities from rolling segment to trade-for-trade segment with 5% price band, effective October 16, 2025.

Summary

BSE has announced the movement of 18 securities from the rolling segment to the trade-for-trade (T2T) segment with a price band of 5% or lower, effective October 16, 2025. This includes 17 securities moving to various T2T groups (T, XT) and 1 SME security moving to MT group. Additionally, 26 securities will be retained in their existing T2T segments. This surveillance measure restricts intraday trading and mandates compulsory delivery-based settlement for all trades.

Key Points

  • 17 securities shifting from rolling segment (B/X groups) to trade-for-trade segment (T/XT groups)
  • 1 SME security (Zinema Media) shifting from M group to MT group
  • 26 securities being retained in existing T2T segments (25 in XT group, 1 in MT group)
  • Price band of 5% or lower applicable to all T2T securities
  • Changes effective from October 16, 2025
  • Trade-for-trade segment prohibits intraday trading and requires full delivery settlement

Regulatory Changes

Securities moved to T2T segment will be subject to stricter trading restrictions:

New Inclusions to T Group (From B Group):

  • Akshar Spintex Ltd (541303)
  • Ishan Dyes and Chemicals Ltd (531109)
  • Orchasp Ltd (532271)
  • Palred Technologies Ltd (532521)
  • We Win Ltd (543535)
  • Zenith Steel Pipes & Industries Ltd (531845)

New Inclusions to XT Group (From X Group):

  • Citi Port Financial Services Ltd (531235)
  • Cubical Financial Services Ltd (511710)
  • Decorous Investment & Trading Co Ltd (539405)
  • Gayatri Sugars Ltd (532183)
  • Jeevan Scientific Technology Ltd (538837)
  • Organic Coatings Ltd (531157)
  • Rajnish Retail Ltd (530525)
  • Skyline Millars Ltd (505650)
  • Sujala Trading & Holdings Ltd (539117)
  • Trio Mercantile & Trading Ltd (534755)
  • True Green Bio Energy Ltd (533407)

New Inclusion to MT Group (SME):

  • Zinema Media And Entertainment Ltd (538579)

Compliance Requirements

  • Brokers and Trading Members: Must ensure all trades in affected securities are settled on delivery basis only from October 16, 2025
  • Investors: Cannot engage in intraday trading (square-off) for these securities; all purchases must result in delivery
  • Risk Management Systems: Must be updated to reflect T2T status and 5% price band restrictions
  • Margin Requirements: Full upfront margin collection mandatory for T2T securities
  • Settlement: Compulsory delivery-based settlement for all transactions

Important Dates

  • October 16, 2025: Effective date for movement of securities to trade-for-trade segment
  • October 16, 2025: New trading restrictions and price band become applicable

Impact Assessment

Liquidity Impact: Significant reduction in trading volumes expected as intraday traders will exit these securities. Historical data shows T2T securities experience 60-80% drop in trading activity.

Investor Impact: Retail and institutional investors engaged in short-term trading strategies will be unable to execute intraday positions. Only delivery-based investors can participate.

Price Discovery: Limited price discovery due to reduced participation and 5% price band restriction. Volatility may increase at band limits.

Market Surveillance: This action indicates BSE has identified unusual price movements, volatility, or other concerns warranting enhanced surveillance through T2T classification.

Operational Impact: Brokers must update risk management systems, block intraday orders, and ensure 100% margin collection for these securities. Failure to comply may result in penalties.

Impact Justification

Movement to trade-for-trade segment significantly restricts trading by eliminating intraday trading and requiring full delivery settlement, directly impacting liquidity and trading strategies for 18 securities.