How to Trade Swan Defence at Zerodha: Complete Guide
Current Trading Status and Restrictions
Swan Defence and Heavy Industries Limited (SWANDEF) is currently available for trading on both NSE and BSE through Zerodha, but it comes with significant restrictions that may explain why you're having difficulty finding or trading it [1]. The stock resumed trading on January 20, 2025, after a 1.5-year suspension, but it's classified under special surveillance measures that limit its visibility and trading options [2][3].
Why You Can't See Swan Defence Options
1. Stock Classification Under Surveillance
Swan Defence is currently under IBC Stage 1 surveillance (Insolvency and Bankruptcy Code) as of May 12, 2025 [3]. This classification means:
- The stock is placed in the Trade-to-Trade (T2T) segment [4]
- No intraday trading is allowed - all transactions require mandatory delivery [5][6]
- The stock may not be visible on Kite on certain days but can be viewed on Console [2][3]
- Trading is restricted to once a week (Mondays) for IBC Stage 1 stocks [2]
2. T Group/T2T Restrictions
Swan Defence falls under BSE's T Group classification, which imposes several trading limitations [7][8]:
- Mandatory delivery requirement - you cannot do intraday trading [5]
- No BTST (Buy Today Sell Tomorrow) trading permitted [5]
- 5% daily circuit limits in either direction [7]
- MIS (Margin Intraday Square-off) orders are blocked and will show error messages [6]
How to Find and Trade Swan Defence on Zerodha
Step 1: Search for the Stock
To add Swan Defence to your watchlist on Zerodha Kite [9]:
- On Kite Web/App: Search for "Swan Defence" or "SWANDEF"
- Alternative search terms: Try "Swan Defence and Heavy Industries" or the BSE symbol "SWANDEF"
- Add to marketwatch: Click the "+" button once you find it
Step 2: Check Stock Availability
Since Swan Defence is under surveillance, it may not always be visible for trading [10]. The stock is only available for trading on Mondays due to its IBC Stage 1 classification [2][3].
Step 3: Trading Requirements
When trading Swan Defence, you must:
- Use CNC (Cash and Carry) orders only - no MIS or intraday options [6]
- Have sufficient funds for full delivery as margin trading is not available
- Plan for T+2 settlement - shares will be credited to your demat account after 2 trading days [5]
Current Stock Information
As of June 2025, Swan Defence is trading around ₹188-₹208 with high volatility [11][12]. Key details include:
- 52-week high: ₹207.60 [11]
- 52-week low: ₹37.80 [11]
- Market cap: Approximately ₹1,040 crore [11]
- Daily circuit limits: 5% up or down movement [7]
Why You May Not See Trading Options
1. Broker Platform Limitations
Zerodha may have additional restrictions on T Group stocks that require:
- Manual enablement of T Group trading permissions
- Additional risk acknowledgment before allowing trades in surveillance stocks
- Enhanced margin requirements due to the stock's risk profile [4]
2. Account Settings
Your Zerodha account may need specific configurations:
- Ensure your equity segment is active [13]
- Check if BSE trading is enabled in your account segments [13]
- Verify your KYC status is complete, as incomplete KYC can hide stocks from view [10]
Alternative Access Methods
If you still cannot see Swan Defence on Kite:
1. Use Zerodha Console
- Login to Console at console.zerodha.com [14]
- Navigate to Portfolio > Holdings to check if you own the stock [15]
- Surveillance stocks are often visible on Console even when hidden from Kite [2]
2. Contact Zerodha Support
- Create a support ticket for assistance with accessing T Group stocks
- Request manual enablement of surveillance stock trading if needed
- Verify account permissions for BSE T Group trading
Important Trading Considerations
Risk Factors
- High volatility: Swan Defence has shown extreme price movements [1]
- Limited liquidity: Surveillance stocks often have lower trading volumes
- Weekly trading: Only available for trading on Mondays [2]
- Mandatory delivery: No exit flexibility through intraday trading [5]
Investment Caution
Swan Defence has a negative book value per share of -₹165.10 and negative TTM EPS of -₹34.30, indicating significant financial distress [11]. The company is undergoing insolvency proceedings, making it a high-risk investment [2][3].
Conclusion
Swan Defence can be traded on Zerodha, but its classification under IBC Stage 1 surveillance and T Group restrictions significantly limit trading options [2][3]. The stock is only available for delivery-based trading on Mondays, with no intraday or margin trading permitted [5][6]. If you cannot locate the stock on Kite, check Zerodha Console or contact support to ensure your account has the necessary permissions for trading surveillance stocks.