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Business News/ Market / Stock-market-news/  NSE excludes United Spirits from equity derivatives segment
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NSE excludes United Spirits from equity derivatives segment

The company has not submitted results for 2013-14 and the quarter ended 30 June

The exchange said fresh month contracts will not be introduced for the expiry month November 2014, on the expiration of August 2014 contracts and all existing contracts—those with expiry dates 25 September and 30 October—will expire on 18 September. Photo: Hemant Mishra/MintPremium
The exchange said fresh month contracts will not be introduced for the expiry month November 2014, on the expiration of August 2014 contracts and all existing contracts—those with expiry dates 25 September and 30 October—will expire on 18 September. Photo: Hemant Mishra/Mint

Mumbai: National Stock Exchange of India Ltd. (NSE) has excluded United Spirits Ltd. from its equity derivatives segment, since the company has not submitted results for 2013-14 and the quarter ended 30 June.

The exchange said fresh month contracts will not be introduced for the expiry month November 2014, on the expiration of August 2014 contracts and all existing contracts—those with expiry dates 25 September and 30 October—will expire on 18 September.

Accordingly, no futures and options contracts will be available in the underlying MCDOWELL-N for trading from 19 September.

On Wednesday, 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.

On 2 August, United Spirits which was expected to publish its fourth-quarter results after a delay of more than two months, said it was postponing reporting results for the third time after the audit committee of the board sought “certain clarifications and information on the draft financial results and related issues."

India’s largest liquor company, which is controlled by Diageo Plc, was initially expected to publish fourth-quarter and full-year results as early as 16 May, but it said on 15 May that its earnings report would be delayed due to “unavoidable circumstances." It then said on 27 May that it will take more time to report its results, partly because of the accounting related to the sale of its Whyte and Mackay whisky business.

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Published: 21 Aug 2014, 11:01 PM IST
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