The Bombay Stock Exchange (BSE) has dropped 12 stocks from its derivatives list as these shares failed to meet the eligibility criteria laid out by the Securities and Exchange Board of India (Sebi) in December 2002.
The stocks which have been dropped from the derivatives list are: Bharat Heavy Electricals, Grasim Industries, BSES, Tata Power, Gujarat Ambuja Cements, Hindalco, Housing Development Corporation Ltd, Videsh Sanchar Nigam Ltd, Mahindra & Mahindra, Tata Tea, Sterlite Optical and Shipping Corporation of India (SCI).
In a notice to its members, BSE said that no new futures and options contracts would be allowed in these stocks from March 28 as they no longer satisfy the Sebi eligibility criteria.
Poor volume on the derivative segment has forced BSE to trim the list of its derivatives stocks to 26.
The National Stock Exchange (NSE), which holds over 98 per cent of the total turnover in the derivatives market, will continue to trade individual stock futures in all its 41 stocks cleared by Sebi.
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