What does T1 above the shares I've bought in Zerodha Kite mean?
Indian stock exchanges use the rolling settlement method. Rolling settlement is the process of settling security trades on successive dates so that trades executed today will have a settlement date on the next trading day. This differs from account settlement, in which all trades are settled once in a set period of days, regardless of when the trade occurred.
In India, the settlement time for equity is T+1 days, which means if the shares are purchased on Monday, they will be added to the client’s demat account by Tuesday evening. Until the shares are credited, they will be displayed as T1 quantity, denoting that the settlement is yet to be completed.
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