Description

BSE announces transfer of 16 securities from rolling segment to trade-for-trade segment with 5% price band, effective December 11, 2025.

Summary

BSE has announced the transfer of 16 securities from the rolling settlement segment to the trade-for-trade (T2T) segment with a 5% or lower price band, effective December 11, 2025. This includes 13 securities moving to XT group, 3 to T group, and retention of 24 existing T2T securities. Trade-for-trade classification is a surveillance measure that restricts intraday trading and requires compulsory delivery of shares.

Key Points

  • 16 securities being shifted from rolling segment to trade-for-trade segment effective December 11, 2025
  • 13 securities moving to XT group (mainly from X group)
  • 3 securities moving to T group (from B group): Axita Cotton, Nectar Lifesciences, Ortin Global, Shyam Century Ferrous
  • No SME securities being newly added to trade-for-trade segment
  • 24 securities retained in existing trade-for-trade segments (XT, T, Z, P groups)
  • 1 SME security (Milestone Furniture) retained in MT group
  • Price band restricted to 5% or lower for all affected securities

Regulatory Changes

Transfer to trade-for-trade segment imposes the following restrictions:

  • No intraday trading allowed - all trades must result in delivery
  • Price band limited to 5% or lower (reduced from normal 10-20%)
  • Enhanced surveillance due to concerns about price volatility or manipulation
  • Trades settled on T+2 basis with mandatory delivery
  • Increased margin requirements for trading these securities

Compliance Requirements

For Trading Members:

  • Update systems to recognize new T2T classifications by December 11, 2025
  • Ensure clients are aware of trade-for-trade restrictions
  • Block intraday trading in these securities from effective date
  • Apply appropriate margin requirements

For Investors:

  • Cannot square off positions intraday - must take/give delivery
  • Must have sufficient funds/securities before trading
  • Be prepared for reduced liquidity in these scrips
  • Understand that price movements limited to 5% per day

Important Dates

  • December 11, 2025: Effective date for shifting securities to trade-for-trade segment
  • December 11, 2025: New price band of 5% becomes applicable

Impact Assessment

Market Impact:

  • Significant reduction in liquidity for affected 16 securities
  • Limited price discovery due to 5% price band restriction
  • Reduced speculative trading and volatility
  • Potential difficulty in executing large orders

Investor Impact:

  • Existing intraday traders must exit positions or prepare for delivery
  • Higher capital requirements as leveraged trading effectively eliminated
  • Longer holding periods required (minimum overnight)
  • Potential difficulty in exiting positions due to reduced liquidity

Affected Securities: Major securities include Nectar Lifesciences, Shyam Century Ferrous, Ortin Global (B to T group), and 13 others moving to XT group including Aadi Industries, Containerway International, KCD Industries, and Nectar Lifesciences.

Securities Moving to Trade-for-Trade (Annexure-I)

To XT Group (from X group):

  1. Aadi Industries (530027)
  2. Containerway International (540597)
  3. Dhruva Capital Services (531237)
  4. Fruition Venture (538568)
  5. Gallops Enterprise (531902)
  6. Halder Venture (539854)
  7. KCD Industries India (540696)
  8. KZ Leasing & Finance (511728)
  9. Lexoraa Industries (531944)
  10. Multipurpose Trading & Agencies (504356)
  11. Umiya Tubes (539798)
  12. Vinayak Polycon International (534639)

To T Group (from B group):

  1. Axita Cotton (542285)
  2. Nectar Lifesciences (532649)
  3. Ortin Global (539287)
  4. Shyam Century Ferrous (539252)

Securities Retained in Trade-for-Trade (Annexure-II)

24 securities continue in T2T segment including Future Enterprises (Z group), Equippp Social Impact Technologies, Gujarat Raffia Industries, SVP Global Textiles (T group), and 20 others in XT/P groups. One SME security, Milestone Furniture, retained in MT group.

Impact Justification

Trade-for-trade classification significantly restricts trading by eliminating intraday positions and limiting liquidity, materially impacting 16 securities across regular and SME segments.