What It Means
CNC (Cash and Carry) is the product type you select when buying equity shares to actually hold — for delivery into your demat account — rather than for a same-day trade. It requires full payment upfront and carries no leverage.
How It Works
Unlike MIS, a CNC buy has no broker-imposed square-off deadline: the shares settle into your demat account after the exchange's standard settlement cycle and simply sit in your holdings until you choose to sell. Because there's no intraday leverage involved, you need the entire trade value available as funds, not just a margin fraction.
Example
Buying 50 shares at ₹1,000 under CNC needs the full ₹50,000 in your account — compare that to the same trade under MIS, which might need only a fifth of that.