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India bluechips to shift to world's fastest settlement cycle T+1 this week

Starting Jan. 27, stocks from Reliance Industries Ltd. to Tata Consultancy Services Ltd. and Adani Enterprises Ltd will be settled on a 'trade-plus-one-day' timeline versus the earlier two-day process

Photo: Bloomberg
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Photo: Bloomberg

Dhwani Pandya | Bloomberg New Delhi
Shares of about 200 of India’s biggest listed companies are set to move to a faster settlement cycle, making the South Asian nation the second market after China to switch to the so-called T+1 system.
 
Starting Jan. 27, stocks from Reliance Industries Ltd. to Tata Consultancy Services Ltd. and Adani Enterprises Ltd. — together comprising 80% of the country’s equity market — will be settled on a ‘trade-plus-one-day’ timeline versus the earlier two-day process. The yearlong changeover gave market intermediaries time to prepare, said Prashant Vagal, executive vice president at National Securities Depository Ltd.
 
This last step in the transition will

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First Published: Jan 24 2023 | 7:07 AM IST

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