Description
NSE moves 18 securities from Rolling segment to Trade for Trade segment (series BE/ST) with a 5% price band effective April 30, 2026, based on surveillance criteria including Price Earnings Multiple, Price Variation, and Market Capitalization.
Summary
NSE has issued a surveillance circular shifting 18 securities from the Rolling segment to the Trade for Trade (TFT) segment effective April 30, 2026 (Thursday). The affected securities will be placed under series BE or ST with a price band of 5% or lower. Additionally, 8 securities are confirmed to continue trading in the TFT segment (BE/BZ series) under ongoing surveillance action.
Key Points
- 15 securities moving from Rolling segment (series: EQ) to Trade for Trade segment (series: BE) with 5% price band
- 3 securities moving from SME Rolling segment (series: SM) to SME Trade for Trade segment (series: ST) with 5% price band
- All shifts are effective from April 30, 2026 (Thursday)
- Primary surveillance criteria applied: Price Earnings Multiple, Price Variation & Market Capitalization
- 8 additional securities confirmed to continue in TFT segment (BE/BZ series) under current fortnightly surveillance review
- Three securities (EMPOWER, GLOBALE, KANCHI) in Annexure 1 are flagged as per BSE data
- One security (PEARLPOLY) in Annexure 2 is flagged as per BSE data
Regulatory Changes
The following securities are shifted from Rolling (EQ) to Trade for Trade (BE) segment:
| Symbol | Security Name | ISIN |
|---|---|---|
| AAREYDRUGS | Aarey Drugs & Pharmaceuticals Limited | INE198H01019 |
| PALREDTEC | Palred Technologies Limited | INE218G01033 |
| BLUECOAST | Blue Coast Hotels Limited | INE472B01011 |
| KAKATCEM | Kakatiya Cement Sugar & Industries Limited | INE437B01014 |
| OILCOUNTUB | Oil Country Tubular Limited | INE591A01010 |
| BIRLACABLE | Birla Cable Limited | INE800A01015 |
| DIGISPICE | Digispice Technologies Limited | INE927C01020 |
| EMAMIREAL | Emami Realty Limited | INE778K01012 |
| MASKINVEST | Mask Investments Limited | INE885F01015 |
| UNIINFO | Uniinfo Telecom Services Limited | INE481Z01011 |
| VALIANTLAB | Valiant Laboratories Limited | INE0JWS01017 |
| VINEETLAB | Vineet Laboratories Limited | INE505Y01010 |
| EMPOWER | Empower India Limited | INE507F01023 |
| GLOBALE | Globale Tessile Limited | INE0URU01010 |
| KANCHI | Kanchi Karpooram Limited | INE081G01019 |
The following SME securities are shifted from SME Rolling (SM) to SME Trade for Trade (ST) segment:
| Symbol | Security Name | ISIN |
|---|---|---|
| BALCO | Solve Plastic Products Limited | INE0U0201016 |
| BIRDYS | Grill Splendour Services Limited | INE0PC901019 |
| CADSYS | Cadsys (India) Limited | INE090Y01013 |
The following securities continue in TFT segment (BE/BZ) under ongoing surveillance:
| Symbol | Security Name | ISIN |
|---|---|---|
| COMPINFO | Compuage Infocom Limited | INE070C01037 |
| FILATFASH | Filatex Fashions Limited | INE185E01021 |
| GLFL | Gujarat Lease Financing Limited | INE540A01017 |
| JKIPL | Jinkushal Industries Limited | INE1FF001016 |
| RSSOFTWARE | R. S. Software (India) Limited | INE165B01029 |
| SHYAMTEL | Shyam Telecom Limited | INE635A01023 |
| TOKYOPLAST | Tokyo Plast International Limited | INE932C01012 |
| PEARLPOLY | Pearl Polymers Limited | INE844A01013 |
Compliance Requirements
- Brokers and trading members must update their systems to reflect the segment and series change for the 18 affected securities by April 30, 2026
- Intraday trading (MIS/BO/CO) will not be permitted in Trade for Trade segment; all trades must result in delivery
- Clients with open positions in affected securities should be informed of the change in trading conditions
- Settlement obligations will be on a trade-by-trade basis; netting of positions will not be permitted
Important Dates
- Circular Date: April 27, 2026
- Effective Date: April 30, 2026 (Thursday) — all 18 securities shift to TFT segment from this date
Impact Assessment
This circular has a high impact on retail and institutional traders holding or intending to trade in the 26 listed securities. Moving securities to the Trade for Trade segment effectively eliminates intraday trading opportunities and mandates compulsory delivery settlement, significantly reducing liquidity. The 5% daily price band further constrains price movement. Traders with short-term positions in these securities face increased settlement risk and reduced exit flexibility. The surveillance action — triggered by anomalies in price-earnings multiples, price variation, and market capitalization — signals regulatory concern over potential manipulation or unusual activity in these counters. Market participants should exercise caution and conduct due diligence before taking new positions in these securities.
Impact Justification
Directly affects trading conditions for 26 securities; shifting to Trade for Trade segment with 5% price band significantly restricts intraday trading and increases settlement obligations for investors holding these stocks.