Raymond, Azad Engineering To Mahanagar Gas — These Companies Will Trade T+0 From Jan. 31
The optional T+0 settlement cycle will be available for 100 stocks from Jan. 31 onwards, according to a circular issued by the National Stock Exchange of India. Raymond Ltd., Azad Engineering Ltd., and Mahanagar Gas Ltd. are a part of these 100 scrips to be eligible in the first phase of widening.
This comes after the Securities and Exchange Board of India last month announced that the T+0 settlement cycle will be available for top 500 stocks in terms of market capitalisation from Jan. 31, 2025 onwards. However, the trading will commence in a phased manner with only 100 out of the top 500 scrips to be eligible in the first phase of widening.
The second phase of widening, consisting of 100 additional stocks, will begin from Feb. 25, the third phase from March 28 and the fourth phase from April 30. The top 100 stocks will get the option for the T+0 settlement in the final phase that will begin from May 30.
Allied Blenders and Distillers Ltd., Aether Industries Ltd., Akums Drugs and Pharmaceuticals Ltd., Ceat Ltd., Edelweiss Financial Services Ltd. and Glenmark Life Sciences Ltd., are among the companies to trade T+0 settlement in the first phase. Other companies include G R Infraprojects Ltd., Inox Wind Energy Ltd., KPI Green Energy Ltd., Zee Entertainment Enterprises Ltd. and Zydus Wellness Ltd.
Here is a list of companies that will be eligible in the first phase of T+0 settlement cycle:
T+0 refers to the settlement cycle which ensures that the shares are credited in the demat account of the investor on the same day of trade. The initiative was first approved in March for non-custodian clients, and launched in a beta version on the exchanges.
The shortened settlement cycle is expected to bring cost and time efficiency, transparency in charges to investors and strengthen risk management at clearing corporations.
All stockbrokers are allowed to participate in the optional T+0 settlement cycle, SEBI said, while noting that the brokers are "permitted to charge differential brokerage for T+0 and T+1 settlement cycles, within the regulatory limit".
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