The National Stock Exchange (NSE) will be excluding shares of Castrol India and Gland Pharma from the Futures & Options (F&O) segment starting January 31, a statement from the exchange said on January 24.
A circular modifying the previous intimation, dated January 7, was shared by NSE, citing incomplete 'eligibility criteria' as the reason behind the decision to exclude. "...it is being hereby informed that the below securities have not fulfilled one of the eligibility criteria as
on date," said NSE, naming Castrol India and Gland Pharma in its latest communication.
"Members are requested to note that the availability of the above two securities for trading in Futures & Options contracts with effect from January 31, 2025 stands withdrawn," the circular said. No further explanation has been shared as to what criteria was not fulfilled, leading to the withdrawal from the segment.
Previously, NSE had proposed to include six companies, including these two, in the F&O space for trading from January 31, 2025. There is no change for other four securities, namely, NBCC, Phoenix, Solar Industries India and Torrent Power, as mentioned in the circular earlier.
The National Stock Exchange had also announced the removal of 16 stocks from the F&O segment, effective February 28, 2025, stating that no contracts will be available for trading beyond this date.
The excluded stocks include PVR Inox, United Breweries, Abbott India, Atul, Bata India, Can Fin Homes, Coromandel International, City Union Bank, Gujarat Narmada Valley Fertilizers and Chemicals, Gujarat Gas, IndiaMart Intermesh, IPCA Laboratories, Dr. Lal Path Labs, Metropolis Healthcare, Navin Fluorine International, and Sun TV Network.
The market lot and scheme of strikes of the securities shall be informed to members on January 30, 2025 through a separate circular. Analysts have previously said that inclusion in the derivatives segment can significantly enhance trading volumes and price discovery for these stocks.
NSE's MD and CEO Ashish Chauhan has in the past said that many of these stocks were included after achieving higher liquidity and size thresholds.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
