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M/MT group consist of stocks forming part of BSE's SME (Small & Medium enterprise).
For an IPO under the SME category, the listing group should be 'MT' on BSE and 'ST' on NSE.
The BSE SME scrips which are listed under the "M" group (trading and clearing & settlement is done on a net basis) and those listed under the "MT" group (trading and clearing & settlement done on a gross basis).
