The National Stock Exchange of India said on Wednesday that India Cements Ltd. will be excluded from futures and options. The exchange has directed that contracts for new expiry months will not be issued, and no contracts will be available for trading in India Cements' with effect from Aug. 30, according to a circular.
The decision is in line with the Securities and Exchange Board of India's circular dated Oct. 16 and the NSE's circular dated April 29 regarding the eligibility criteria for stocks in the F&O segment.
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The exchange has stated that the existing unexpired contracts for June, July, and August 2024 will continue to be traded until their respective expiration dates.
Separately, the NSE has imposed restrictions on India Cements' derivatives that crossed 95% of the market-wide position limit. Clients and members have been directed to offset their positions until the open interest falls to 80% of the limit, the exchange said in a separate circular. The NSE has further advised members to take note of the changes and adjust their positions accordingly.
Shares of India Cements rallied to close 14% higher at Rs 261.50. That compared with 0.6% gains in the country's benchmark NSE Nifty 50.
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