Description

BSE announces shift of 21 securities from rolling segment to trade-for-trade segment and 6 SME securities to trade-for-trade with 5% price band, effective November 13, 2025.

Summary

BSE has announced the shift of 27 securities from the rolling settlement segment to the trade-for-trade (T2T) segment with a price band of 5% or lower, effective November 13, 2025. This includes 21 securities from the main board (moving to T or XT groups) and 6 securities from the SME segment (moving to MT group). Additionally, 23 securities will be retained in the T2T segment. This is a surveillance measure that restricts intraday trading and requires full delivery of shares.

Key Points

  • 21 securities shifting from rolling segment to trade-for-trade segment (T or XT group) effective November 13, 2025
  • 6 SME securities shifting to trade-for-trade SME segment (MT group) effective November 13, 2025
  • 23 securities being retained in trade-for-trade segment with 5% price band
  • Price band limited to 5% or lower for all affected securities
  • Trade-for-trade segment requires compulsory delivery with no intraday trading allowed

Regulatory Changes

Securities moved to trade-for-trade segment will be subject to:

  • 5% or lower price band restrictions
  • Compulsory delivery settlement (no intraday squaring off)
  • Enhanced surveillance measures
  • No derivative contracts available
  • Reduced liquidity and trading flexibility

Main Board Securities Moving to T2T:

  • Group X to XT: Ador Multiproducts, Ashnisha Industries, Calcom Vision, Duke Offshore, Jattashankar Industries, Kati Patang Lifestyle, Lake Shore Realty, Mishka Exim, RGF Capital Markets, Svarnim Trade Udyog, Tierra Agrotech, Typhoon Financial Services, UTL Industries
  • Group B to T: Exxaro Tiles, HB Stockholdings, Lancor Holdings, Megastar Foods, Onelife Capital Advisors, Shubham Polyspin
  • Group X to XT: Suryo Foods & Industries

SME Securities Moving to MT:

  • AA Plus Tradelink Ltd, Bothra Metals & Alloys Ltd, Fone4 Communications (India) Ltd, Ghushine Fintrrade Ocean Ltd, Mac Hotels Ltd, Reetech International Ltd

Compliance Requirements

  • Trading members must ensure all trades in affected securities are settled with delivery
  • No intraday positions allowed in these securities from November 13, 2025
  • Investors holding positions must take/give delivery of shares
  • Brokers must update risk management systems to reflect T2T status
  • Margin requirements will apply as per T2T segment norms

Important Dates

  • Effective Date: November 13, 2025 - Securities shift to trade-for-trade segment
  • Circular Date: November 10, 2025

Impact Assessment

Market Impact: High - This surveillance action will significantly reduce liquidity in 27 securities as intraday trading will not be permitted. The 5% price band restriction further limits price discovery and trading opportunities.

Investor Impact: Investors in these securities will face:

  • Reduced liquidity and wider bid-ask spreads
  • Inability to do intraday trading
  • Higher transaction costs due to delivery obligations
  • Potential difficulty in exiting positions quickly
  • Limited arbitrage opportunities

Operational Impact: Brokers and trading members need to:

  • Update trading systems to block intraday positions
  • Modify risk management frameworks
  • Communicate changes to affected clients
  • Ensure adequate settlement processes for delivery trades

This move indicates BSE’s concern about unusual price movements or trading patterns in these securities, warranting enhanced surveillance through trade-for-trade restrictions.

Impact Justification

High impact surveillance measure affecting 27 securities moving to trade-for-trade segment with reduced price band, significantly restricting trading flexibility and liquidity for affected stocks.