No trade in F&O & cash segments for Sterlite from August 27

Moneycontrol Bureau

National Stock Exchange of India (NSE) will stop trading in Sterlite Industries in cash as well as futures & options (F&O) segments with effect from August 27 as Sterlite will be merged into Sesa Goa soon.

"The existing contracts with expiry dates August 29, 2013, September 26, 2013 and October 31, 2012 will expire on August 26, 2013. Accordingly, no futures and options contracts will be available in the underlying STER for trading from August 27, 2013 onwards," says NSE in its release.

The exchange also says that the methodology for position adjustments shall be separately intimated by NSCCL.

Sesa Goa on Saturday has informed the exchange that the board of directors has fixed August 28, 2013 as a record date for determining the list of shareholders of Sterlite, MALCO and Ekaterina to whom the equity shares of Sesa Goa will be allotted.

According to the scheme of arrangement, Sesa Goa shall issue and allot its three fully paid up equity shares of face value of Re 1 each for every five fully paid up equity shares of face value of Re 1 each of Sterlite Industries.

Former shares fell 2.09 percent to Rs 147.25 while latter dropped 1.62 percent to Rs 81.75.