Continuation of Trading in Securities under Z Category

The Z Category is meant for companies that have not followed important compliance rules laid out by SEBI, such as submitting their quarterly shareholding patterns or fulfilling disclosure requirements on time. When a company falls short of these obligations, it gets shifted to the Z Category.

Z Category shares are treated as high-risk. To safeguard you, all trades in these securities are settled on a Trade-for-Trade basis. That means you cannot do intraday speculation, every trade must result in actual delivery of shares. This ensures better control and transparency in trading, while also warning investors to be cautious with such companies.

Trading in these companies' securities is eligible to be continued in the ‘Z’ Category (“BZ” Series) from September 26, 2025, due to this non-compliance. It’s worth noting that these securities are already trading in the ‘Z’ Category under previous Exchange circulars, with details provided below.