Description
BSE notifies trading members that equity shares of Bhagawati Gas Ltd. (Scrip Code: 500051) will be reclassified into the 'X' group effective March 05, 2026, imposing trading restrictions on the scrip.
Summary
BSE has notified trading members via Notice No. 20260226-11 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 scrips subject to trade-to-trade (T2T) settlement on a compulsory basis, typically applied to companies that have not met certain listing compliance requirements.
Key Points
- Bhagawati Gas Ltd. (Scrip Code: 500051) will be moved to the ‘X’ group on BSE.
- The reclassification takes effect from March 05, 2026.
- Under the ‘X’ group, trades are settled on a compulsory trade-to-trade (T2T) basis — intraday netting of positions is not permitted.
- Trading members must adjust their systems and client advisories accordingly ahead of the effective date.
- Contact for clarifications: Mrs. Kinjal More, Cell No. +91-7304278788.
Regulatory Changes
The scrip is being reclassified from its current trading group into the ‘X’ group, which is a surveillance/compliance-driven category on BSE. Under ‘X’ group rules:
- No intraday trading or netting of buy and sell positions is allowed.
- All trades must result in compulsory delivery (trade-to-trade settlement).
- This classification typically reflects non-compliance with listing obligations or surveillance concerns.
Compliance Requirements
- Trading Members must note the group change and ensure their trading systems reflect the ‘X’ group classification for Scrip Code 500051 from March 05, 2026.
- Members should inform clients holding or intending to trade in Bhagawati Gas Ltd. shares about the changed settlement obligations.
- No specific action is required from the company or investors beyond awareness of the changed trading rules.
Important Dates
| Event | Date |
|---|---|
| Circular Notice Date | February 26, 2026 |
| Effective Date of Group Change | March 05, 2026 |
Impact Assessment
For Traders/Investors: The move to ‘X’ group significantly restricts trading flexibility. Intraday trading in this scrip will no longer be possible after March 05, 2026. All positions must be backed by delivery, increasing capital requirements per trade and reducing speculative activity.
For Liquidity: ‘X’ group classification typically leads to a sharp reduction in trading volumes and liquidity as speculative and intraday participants exit the scrip.
For the Company: This reclassification signals potential non-compliance with BSE listing requirements and may have negative implications for investor perception and the company’s ability to raise capital.
Severity: High — Trading restrictions effective within 7 days require immediate action by trading members and awareness by investors.
Impact Justification
Migration to BSE 'X' group imposes significant trading restrictions on Bhagawati Gas Ltd. shares, directly affecting liquidity and investor ability to trade the scrip; actionable by March 05, 2026.