Gland Pharma shares fall over 3% after NSE's announcement on F&O segment exclusion

Gland Pharma shares decline beyond 3% following announcement on F&O segment exclusion

Shares of Gland Pharma fell 3.17 percent to trade at Rs 1,571, as seen at 1:27 pm on January 24. This comes after the National Stock Exchange (NSE) said that it will be excluding shares of Gland Pharma from the Futures & Options (F&O) segment.

As per the exchange statement, the F&O segment starting January 31 will exclude shares of Castrol India and Gland Pharma. This comes ahead of the company's announcement of its earnings for the quarter and nine months ended December 31, 2024, which is scheduled for February 3, 2025.

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A circular modifying the previous intimation, dated January 7, was shared by NSE. It cited 'eligibility criteria' as the reason behind the decision to exclude the stocks. "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.

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.