Description

BSE revises the list of securities transferred to T/XT and MT/TS groups under trade-to-trade settlement, affecting 33 scrips in main board and 12 scrips in SME segment.

Summary

BSE has revised the list of securities subject to trade-to-trade settlement under surveillance measures. A total of 33 scrips have been transferred to or continue in the T/XT Group (main board), and 12 scrips have been transferred to or continue in the MT/TS Group (SME segment). Securities in trade-to-trade groups do not permit intraday trading and require compulsory delivery-based settlement.

Key Points

  • 33 securities transferred to/continuing in T/XT Group for main board
  • 12 securities transferred to/continuing in MT/TS Group for SME segment
  • Scrips classified under various review categories: A (abnormal price movements), B (high volatility), C (corporate action issues), and D (other surveillance concerns)
  • Includes scrips from Group B, X, M, and MS based on their trading characteristics
  • Two scrips (Borana Weaves Ltd and Haleos Labs Ltd) are commonly listed but satisfy criteria only at NSE

Regulatory Changes

Securities moved to trade-to-trade groups are subject to enhanced surveillance measures:

  • No intraday trading permitted
  • All trades must result in delivery
  • Price bands and position limits as applicable
  • Increased monitoring for market integrity

Compliance Requirements

For Trading Members:

  • Update client communications regarding trade-to-trade restrictions on affected scrips
  • Ensure all orders in these scrips are marked for delivery
  • Block intraday trading facilities for these securities

For Investors:

  • Cannot square off positions intraday
  • Must take/give delivery of shares purchased/sold
  • Pay-in and pay-out obligations as per normal settlement cycle

Important Dates

  • Effective Date: As per BSE circular dated November 27, 2025
  • Implementation: Immediate upon circular issuance

Impact Assessment

Market Impact:

  • Reduced liquidity in affected scrips due to absence of intraday trading
  • Potential widening of bid-ask spreads
  • Decreased trading volumes expected

Investor Impact:

  • Intraday traders cannot trade these scrips
  • Delivery-based investors can continue normal trading
  • Increased capital requirement as full payment needed upfront
  • Enhanced investor protection through delivery-based settlement

Operational Impact:

  • Trading members must configure systems to block intraday trades
  • Risk management systems need updates for position tracking
  • Client communication and awareness required

Affected Scrips Details

Main Board (T/XT Group) - 33 Scrips: Includes companies like ARCL Organics, Bampsl Securities, Borana Weaves, Classic Leasing & Finance, Colorchips New Media, Croissance, Decillion Finance, Dhampure Specialty Sugars, Energy Development Company, Epuja Spiritech, Global Surfaces, Gold Coin Health Foods, Gujarat Inject Kerala, GV Films, Haleos Labs, Ishwarshakti Holdings, Jindal Leasefin, Kabra Drugs, Kiran Syntex, LS Industries, Mega Nirman, Phaarmasia, Pioneer Investcorp, Rapicut Carbides, Rishab Special Yarns, Shree Hari Chemicals, Shreyas Intermediates, Starlineps Enterprises, Trustwave Securities, Tuni Textile Mills, Unipro Technologies, Vaarad Ventures, and Venus Remedies.

SME Segment (MT/TS Group) - 12 Scrips: Includes Concord Control Systems, Cospower Engineering, Diksat Transworld, GB Logistics Commerce, H.M. Electro Mech, Jet Solar, Krupalu Metals, Nanavati Ventures, Nirmitee Robotics India, PNGS Gargi Fashion Jewellery, Solvex Edibles, and Vandan Foods.

Impact Justification

Affects trading mechanism for 45 securities by moving them to trade-to-trade settlement, restricting intraday trading and requiring full delivery settlement. Medium impact as it affects specific stocks rather than broad market but significantly changes trading rules for these scrips.