Description

Tata Motors Limited (TMCV) will be transferred from trade for trade segment (BE series) to rolling segment (EQ series) effective November 26, 2025.

Summary

National Stock Exchange of India has announced that Tata Motors Limited (Symbol: TMCV) will be transferred from the trade for trade segment (Series: BE) to the rolling segment (Series: EQ) effective November 26, 2025. This follows Exchange Circular no. NSE/CML/71207 dated November 10, 2025 and is pursuant to SEBI guidelines (CIR/MRD/DP/02/2012 dated January 20, 2012).

Key Points

  • Security: Tata Motors Limited (Symbol: TMCV)
  • Transfer from: Trade for Trade segment (Series: BE)
  • Transfer to: Rolling segment (Series: EQ)
  • Effective date: November 26, 2025
  • Reference circular: NSE/CML/71207 dated November 10, 2025
  • Regulatory basis: SEBI circular CIR/MRD/DP/02/2012 dated January 20, 2012

Regulatory Changes

The security will move from trade for trade settlement mechanism to normal rolling settlement. In trade for trade segment, each trade requires compulsory delivery with 100% upfront margin, while rolling segment allows normal T+2 settlement cycle with standard margin requirements.

Compliance Requirements

  • Market participants must adjust their trading strategies and systems for TMCV symbol
  • Brokers should update client communications regarding settlement mechanism change
  • Risk management systems should be updated to reflect new margin requirements for rolling segment

Important Dates

  • Circular date: November 12, 2025
  • Effective date of transfer: November 26, 2025

Impact Assessment

The transfer to rolling segment is generally positive for market participants as it:

  • Improves liquidity by removing trade-for-trade restrictions
  • Reduces margin requirements from 100% upfront to normal rolling settlement margins
  • Enables intraday trading and better price discovery
  • Allows institutional and retail investors greater trading flexibility
  • May increase trading volumes in the security

Impact Justification

Segment transfer affects trading mechanism for Tata Motors Limited, enabling T+2 settlement instead of trade-for-trade, improving liquidity but affects only one security