Description
NSE Surveillance has decided to shift 20 securities from Rolling segment (EQ/SM) to Trade for Trade segment (BE/ST) with a 5% price band effective May 19, 2026, as part of ongoing market safety review.
Summary
NSE Surveillance (Circular Ref. No. 362/2026, Download Ref No: NSE/SURV/74226) has announced a periodic review of securities under market surveillance. Effective May 19, 2026 (Tuesday), 20 securities will be shifted from the Rolling segment (series: EQ/SM) to the Trade for Trade (T2T) segment (series: BE/ST) with a 5% price band. Additionally, certain securities will continue in the T2T segment and others will be shifted back to the Rolling segment. The action is purely a surveillance measure and should not be construed as adverse action against the concerned companies.
Key Points
- 20 securities shifted from Rolling segment (EQ/SM) to Trade for Trade segment (BE/ST) with 5% price band effective May 19, 2026
- Certain securities will continue trading in Trade for Trade segment (BE/BZ/ST/SZ) with 5% or lower price band as applicable
- Some securities shifted back from Trade for Trade to Rolling segment (EQ/SM) effective May 19, 2026 at existing price bands
- Settlement in T2T segment is on trade-to-trade basis — no netting off is permitted
- Action is based on Capital Market Segment Trading Regulations Part-A, Clause 2.6
- This is a surveillance action and must not be interpreted as adverse action against the listed company
Regulatory Changes
In pursuance of Capital Market Segment Trading Regulations Part-A, 2.6, the Exchange has exercised its power to reassign securities across trading segments based on surveillance review criteria (Criteria A, B, and C). The criteria for movement to/from the Trade for Trade segment are published on NSE’s website at https://www.nseindia.com/regulations/movement-securities-periodic-review.
Compliance Requirements
- NSE Members must take note of the segment changes for the listed securities and update their trading systems accordingly before May 19, 2026
- Members must ensure that clients are informed that settlement for T2T securities will be on a strict trade-to-trade basis with no netting off
- Members are requested to exercise adequate precaution while trading in the affected securities
- For queries, members may contact surveillance@nse.co.in
Important Dates
- Circular Date: May 14, 2026
- Effective Date: May 19, 2026 (Tuesday) — segment shifts (both into and out of T2T) take effect
Impact Assessment
Affected Securities (Shifted to Trade for Trade — Annexure 1):
| Sr. No. | Symbol | Name | ISIN | Criteria |
|---|---|---|---|---|
| 1 | INDOTECH | Indo Tech Transformers Limited | INE332H01014 | A |
| 2 | IDEAFORGE | IdeaForge Technology Limited | INE349Y01013 | A |
| 3 | IBULLSLTD | Indiabulls Limited | INE126M01010 | B |
| 4 | AUSOMENT | Ausom Enterprise Limited | INE218C01016 | C |
| 5 | STYLEBAAZA | Baazar Style Retail Limited | INE01FR01028 | A |
| 6 | DBREALTY | Valor Estate Limited | INE879I01012 | A |
| 7 | MANORG | Mangalam Organics Limited | INE370D01013 | C |
| 8 | MMWL | Media Matrix Worldwide Limited | INE200D01020 | A |
| 9 | DCMNVL | DCM Nouvelle Limited | INE08KP01019 | A |
| 10 | MIRCELECTR | MIRC Electronics Limited | INE831A01028 | A |
| 11 | DEEDEV | Dee Development Engineers Limited | INE841L01016 | A |
| 12 | KRN | KRN Heat Exchanger and Refrigeration Limited | INE0Q3J01015 | A |
| 13 | KANORICHEM | Kanoria Chemicals & Industries Limited | INE138C01024 | C* |
| 14 | QPOWER | Quality Power Electrical Equipments Limited | INE0SII01026 | A |
| 15 | JAIBALAJI | Jai Balaji Industries Limited | INE091G01026 | A |
| 16 | PILITA | PIL Italica Lifestyle Limited | INE600A01035 | A |
| 17 | SHIVAMILLS | Shiva Mills Limited | INE644Y01017 | C |
| 18 | STLNETWORK | STL Networks Limited | INE1VXE01018 | A |
| 19 | ESSENTIA | Integra Essentia Limited | INE418N01035 | A |
| 20 | BNAGROCHEM | BN Agrochem Limited | INE00HZ01011 | A* |
KANORICHEM and BNAGROCHEM also satisfy criteria at BSE.
Market Impact: Movement to the T2T segment imposes strict trade-to-trade settlement, eliminating intraday netting. This significantly reduces liquidity and increases settlement obligations per trade. The 5% price band further restricts daily price movement, limiting both upside and downside. Traders and investors holding or planning positions in these 20 scrips must factor in higher margin requirements and full delivery obligations from May 19, 2026 onwards.
Impact Justification
Directly affects trading and settlement methodology for 20 listed securities; no netting off allowed in T2T segment significantly impacts intraday traders and liquidity for the affected scrips effective May 19, 2026.