Description

BSE has notified that equity shares of Bhagawati Gas Ltd. (Scrip Code: 500051) will be reclassified under the 'X' group effective March 05, 2026, impacting trading conditions for the scrip.

Summary

BSE has issued Notice No. 20260226-11 informing trading members that equity shares of Bhagawati Gas Ltd. (Scrip Code: 500051) will be reclassified and included under the ‘X’ group effective March 05, 2026. The ‘X’ group on BSE denotes trade-to-trade (T2T) settlement, which eliminates intraday squaring off and requires mandatory delivery for all transactions.

Key Points

  • Bhagawati Gas Ltd. (Scrip Code: 500051) equity shares will be moved to the ‘X’ group.
  • The reclassification takes effect from March 05, 2026.
  • Under the ‘X’ group (Trade-to-Trade), all buy and sell transactions must result in mandatory delivery — intraday netting is not permitted.
  • Trading members with queries may contact Mrs. Kinjal More at +91-7304278788.
  • Notice issued by Listing Compliance department (Deputy Vice President Savitri Yadav and Deputy Manager Kinjal More).

Regulatory Changes

The equity shares of Bhagawati Gas Ltd. are being reclassified from their current trading group to the ‘X’ group on BSE. The ‘X’ group (Trade-to-Trade segment) is typically applied to securities under enhanced surveillance or those flagged for compliance-related concerns. This change modifies the settlement mechanism applicable to trades in the scrip.

Compliance Requirements

  • Trading members must update their systems and client communications to reflect the new group classification for Scrip Code 500051 prior to March 05, 2026.
  • All trades executed on or after the effective date must comply with trade-to-trade settlement norms — no intraday offsetting of positions is permitted.
  • Members should inform clients holding or intending to trade in this scrip about the mandatory delivery requirement.

Important Dates

  • Notice Date: February 26, 2026
  • Effective Date of Group Change: March 05, 2026

Impact Assessment

The move to the ‘X’ group (Trade-to-Trade) has a moderate impact on market participants trading in Bhagawati Gas Ltd. (500051). Key implications include: (1) elimination of intraday trading, increasing capital requirements for traders; (2) potential reduction in liquidity and trading volumes as speculative activity is curtailed; (3) existing short-term traders and those using margin-based intraday strategies will need to close or convert positions before the effective date. Long-term investors holding delivery-based positions are less directly affected by this reclassification.

Impact Justification

Reclassification to 'X' group typically triggers trade-to-trade settlement restrictions, eliminating intraday trading and requiring mandatory delivery, which materially affects trading strategy for holders and active traders of this scrip.