United Spirits slips after exclusion from NSE's F&O segment

United Spirits fell 2.38% to Rs 2,345 at 9:23 IST on BSE after the National Stock Exchange excluded the stock from its equity derivatives segment.

Meanwhile, the BSE Sensex was up 71.24 points, or 0.27%, to 26,431.35.

On BSE, so far 25,000 shares were traded in the counter, compared with an average volume of 1.61 lakh shares in the past one quarter.

The stock hit a high of Rs 2,353.40 and a low of Rs 2,318 so far during the day. The stock hit a record high of Rs 2,940.55 on 15 April 2014. The stock hit a 52-week low of Rs 1,993.30 on 28 August 2013.

The stock had underperformed the market over the past one month till 21 August 2014, rising 0.08% compared with 2.51% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 13.02% as against Sensex's 8.49% rise.

The large-cap company has an equity capital of Rs 145.33 crore. Face value per share is Rs 10.

United Spirits has not submitted financial results for the year ended 31 March 2014 and quarter ended 30 June 2014 as required under the listing agreement. In view of the above the National Stock Exchange (NSE) has decided to exclude the scrip from equity derivatives segment. Thus, fresh month contracts will not be introduced for the expiry month November 2014, on the expiration of August 2014 contracts. All existing contracts i.e. contracts with expiry dates 25 September 2014 and 30 October 2014 will expire on 18 September 2014. Accordingly, no futures and options (F&O) contracts will be available in the underlying United Spirits for trading from 19 September 2014 onwards, NSE said.

On Wednesday, 20 August 2014, United Spirits was removed from the benchmark 50-share Nifty Index, CNX Nifty Junior Index, CNX 100 Index, CNX, 200 Index, CNX 500 Index, CNX FMCG Index, CNX Consumption Index, LIX 15 Index and NI15 Index, as part of a periodic review. These changes shall become effective from 19 September 2014.

United Spirits is yet to announce its financial performance for Q4 and year ended 31 March 2014. United Spirits' net profit declined 19.4% to Rs 64.92 crore on 4.8% growth in net sales to Rs 2278.40 crore in Q3 December 2013 over Q3 December 2012.

United Spirits is the largest alcohol beverage company in India.

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