What does the "SM" or "M" symbol beside a stock mean?
Some of our clients ask us how to trade stocks on NSE Emerge or BSE SME because they are under the impression that these are available on another platform of the exchange. All stocks listed on NSE Emerge or BSE SME can be viewed and traded directly on any of the trading platforms provided by Zerodha.
In NSE, stocks listed in EMERGE are available in the 'SM' category. You will find the list of stocks currently trading under this category here. (nseindia.com/emerge > Live Market)
In BSE, stocks listed in SME are available in the 'M' category. You will find the list of stocks currently trading under this category here. (bsesme.com > Markets > SME Streamer)
The only thing different about stocks listed here is that they are traded in lots just like F&O. You cannot buy 1 share or any odd quantity. The lot sizes of each of these stocks are decided by the exchange. These stocks have to be traded only in multiples of their lot size. (*lot size can be found out by looking at the market depth on the exchange website)
A brief introduction of the 2 exchanges:
NSE EMERGE is a credible and efficient exchange that provides a platform for the best of emerging corporates to raise capital from Institutional Investors and HNIs after a credible admission process. It is a source to finance Small and Medium-sized enterprises (SMEs).
The EMERGE asset class includes companies with high growth potential, subsidiary companies, companies funded by VC firms/angel investors and project SVPs.
BSE SME works on the same lines where a platform is provided for SMEs and Investors to meet and transact.
For further details on the regulatory framework, the trading platform, and benefits of listing, you will find the brochures attached below: