F&O alert: Polycab to exit NSE's Futures & Options segment; stock dips 5%

Polycab India shares came under selling market in a buoyant market as the National Stock Exchange (NSE) announced its exclusion from the Futures and Options segment.

 

Polycab India shares opened around 2 per cent lower at ₹8,250, snapping their two days of winning streak. The counter extended the opening losses to make an intraday low of ₹7,955, down 5.35 per cent.

 

Today's fall was seen after the NSE circular wherein the exchange announced that Polycab India will be excluded from the F&O segment, starting December 30, 2026. 

 

The contracts for new expiry months in Polycab India will not be issued on expiry of existing contract months. However, the existing unexpired contracts of expiry months October 2026, November 2026 and December 2026 would continue to be available for trading till their respective expiry date and new strikes would also be introduced in the existing contract months.

 

 

"Accordingly, no contracts shall be available for trading with effect from December 30, 2026," the NSE circular read. 

 

The NSE's decision to exclude Polycab India from the F&O segment follows its admission to the Insolvency and Bankruptcy Code (IBC) framework by the National Company Law Tribunal (NCLT), Ahmedabad. 

Polycab India, which is a leading manufacturer of wires and cables in the country, has since challenged the order and also secured a stay from the National Company Law Appellate Tribunal (NCLAT), New Delhi. 

 

"The National Company Law Appellate Tribunal, Principal Bench, New Delhi has stayed and kept in abeyance the order dated October 07, 2026 passed by the National Company Law Tribunal, Ahmedabad Bench, for admission of the Corporate Insolvency Resolution Process (CIRP) in the matter of Asier Metals Private Limited vs Polycab India Limited (the company) , under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the company in respect of an alleged operational debt of ₹2.79 crore," Polycab India said in a filing. 

 

Polycab India stock: Analysy view

 

Sudeep Shah, head - technical and derivatives research at SBI Securities, said that Polycab India has been consolidating within the ₹8,500–7,883 range since September 4. Despite the ongoing consolidation, the stock continues to trade below its key moving averages, indicating persistent weakness. The DI- line remains above DI+ on the ADX indicator, suggesting that bears currently have the upper hand. The MACD line is also positioned well below the zero line, further reinforcing the bearish bias. 

 

"The ₹7,920–7,880 zone is likely to act as immediate support. A decisive breakdown below this zone could trigger fresh selling pressure in the stock," the analyst said.

 

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