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What does the SM or M symbol beside a stock mean?

All stocks listed on NSE Emerge or BSE SME can be viewed and traded directly on Kite. Stocks listed on NSE Emerge are available in the SM category (WEB), whereas stocks listed on BSE in the SME segment are available in the M category (WEB). The stocks in these categories are only traded in multiples of their lot size, and a single share or any odd quantity cannot be traded.

NSE EMERGE (PDF) is a credible and efficient exchange that provides a platform for 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 (PDF) works on the same lines, providing a platform for SMEs and Investors to meet and transact.