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The National Stock Exchange (NSE), in a circular, on Thursday said it would exclude infrastructure major IVRCL Ltd from its derivative segment with effect from June 28. "However, the existing unexpired contracts for April, May and June would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months," it added.
Besides, trading in derivatives contracts for GVK Power & Infrastructure and Bhushan Steel have not been available on NSE from April 1, 2013. According to the Securities and Exchange Board of India's regulation, any scrip with a minimum trading volume of Rs 10 lakh and market wide position limit (MWPL) or market capitalisation of Rs 300 crore would be eligible for entry into the futures and options (F&O) segment.
If any scrip fails to maintain a minimum MWPL requirement of Rs 200 crore, it is excluded from the F&O segment. The scrip exits the derivative segment if median quarter sigma order size, which indicates liquidity or order size in a scrip, falls below Rs 5 lakh.
