NSE to exclude 11 stocks from derivatives segment; BSE 9

New Delhi: Stock Exchange NSE will exclude eleven stocks, while BSE will remove nine from equity derivatives segment from September 27.

IDBI Bank Ltd, Arvind Ltd, Birlasoft Ltd, Hindustan Zinc, Engineers India Ltd, Kajaria Ceramics, Multi Commodity Exchange of India Ltd, Oracle Financial Services Software Ltd and Raymond Ltd are the nine stocks that will be excluded by both the bourses for failing to meet the enhanced eligibility criteria as prescribed by markets regulator Sebi.

Apart from nine, NSE in a separate notice said stocks of Reliance Infrastructure and Reliance Capital will be excluded from the derivatives segment.

"...no contracts shall be available for trading in the above mentioned security with effect from September 27, 2019," the bourses said in separate notices.

However, the existing unexpired contracts of July 2019, August 2019 and September 2019 will be available for trading till their respective expiry and new strikes shall also be introduced in the existing contract months, the notices added.

The exclusion of nine stocks by both exchanges comes on the backdrop of the Sebi's April 11, 2018 circular which said that after a period of one year from the date of the circular, only those stocks which meet the enhanced eligibility criteria will remain in derivatives segment.

Securities and Exchange board of India (Sebi) had enhanced the criteria by revising market wide position limit and median quarter-sigma order size.

Besides, an additional criterion of average daily deliverable value in the cash market of Rs 10 crore was prescribed.