Yes. Intersettlement (IS) product allows you to  sell the shares bought under 'Cash' before getting delivery of shares. The benefits of Inter settlement (IS) is that you can sell the shares bought under 'Cash' on T+1 or T+2th day without waiting for it to get credited in Demat account. To place an Intersettlement trade login to your trading account and follow the path: Order->'Cash'->Sell. Selected scrips will be allowed for an Inter settlement transaction.