Description

BSE announces transfer of 33 scrips to T/XT Group and 12 scrips to MT/TS Group under trade-to-trade settlement mechanism effective from specified date.

Summary

BSE has announced the revision of scrips in the Trade to Trade segment. A total of 33 scrips are being transferred to T/XT Group and 12 scrips are being transferred to MT/TS Group. Securities in trade-to-trade settlement do not allow intraday trading and require compulsory delivery-based settlement. This circular lists the specific scrips being moved to these restricted trading segments along with their scrip codes, ISIN numbers, and review categories.

Key Points

  • 33 scrips transferred to T/XT Group covering various review categories (A, B, C, D)
  • 12 scrips transferred to MT/TS Group from SME segment
  • Scrips include companies from Group B, X, M, and MS
  • Review categories include SME A, SME B, SME C, SME D, and regular categories A, B, C, D
  • Some scrips marked with asterisk (*) satisfy criteria only at NSE for commonly listed securities
  • Affects both main board and SME segment securities

Regulatory Changes

Transfer to Trade-to-Trade (T/XT/MT/TS) groups represents enhanced surveillance measures where:

  • No intraday trading is permitted
  • All trades must result in delivery
  • Settlement on T+2 basis with compulsory delivery
  • Applied based on surveillance criteria including price volatility, market behavior, or compliance issues
  • Separate groups for main board (T/XT) and SME segment (MT/TS)

Compliance Requirements

  • Investors must take/give delivery of shares for all transactions in these scrips
  • No squared-off intraday positions allowed
  • Brokers must ensure adequate margin and delivery obligations
  • Increased settlement obligations for trading members
  • Enhanced due diligence required for transactions in these securities

Important Dates

  • Circular Date: November 27, 2025
  • Effective date for transfer not explicitly mentioned in provided content (typically mentioned in Part B or separate section)

Impact Assessment

Market Impact:

  • Significant reduction in liquidity for affected 45 scrips
  • Elimination of intraday trading opportunities
  • Potential widening of bid-ask spreads
  • Higher capital requirements for traders

Investor Impact:

  • Retail and institutional investors must commit full capital for purchases
  • Short-term traders and day traders cannot operate in these scrips
  • Increased holding period and settlement risk
  • May lead to reduced trading volumes

Operational Impact:

  • Brokers need to adjust risk management systems
  • Modified margin requirements and exposure limits
  • Enhanced monitoring of client positions and delivery obligations
  • Separate tracking for trade-to-trade segment scrips

Scrip Details - Part A: T/XT Group (33 Scrips)

Notable Transfers:

  • ARCL Organics Ltd (543993) - Group X, Category C
  • Bampsl Securities Ltd (531591) - Group X, Category A
  • Borana Weaves Ltd (544404) - Group B, Category C
  • Dhampure Specialty Sugars Ltd (531923) - Group X, Category C
  • Energy Development Company Ltd (532219) - Group B, Category A
  • Global Surfaces Ltd (543829) - Group B, Category A
  • Venus Remedies Ltd (526953) - Group B, Category B
  • Multiple scrips with combined categories (A & C)

Scrip Details - Part A: MT/TS Group (12 SME Scrips)

SME Transfers:

  • Concord Control Systems Ltd (543619) - Group M, SME A
  • Cospower Engineering Ltd (543172) - Group M, SME A
  • Diksat Transworld Ltd (540151) - Group M, SME D
  • GB Logistics Commerce Ltd (544348) - Group M, SME C
  • H.M. Electro Mech Ltd (544349) - Group M, SME C
  • Jet Solar Ltd (538794) - Group M, SME A
  • Nirmitee Robotics India Ltd (543194) - Group MS, SME A
  • Others across SME categories A, B, and C

Impact Justification

High impact due to transfer of 45 scrips to trade-to-trade settlement, restricting intraday trading and requiring full delivery, significantly affecting liquidity and trading flexibility for these securities.