Home >Market >Stock-market-news >United Spirits falls 4% after NSE excludes it from derivatives trading
No futures and options contracts will be available in the United Spirits stock for trading from 19 September. Photo: Ramesh Pathania/Mint
No futures and options contracts will be available in the United Spirits stock for trading from 19 September. Photo: Ramesh Pathania/Mint

United Spirits falls 4% after NSE excludes it from derivatives trading

NSE said United Spirits has not submitted results for the year ended 31 March 2014 and the quarter ended June

Mumbai: United Spirits Ltd fell as much as 4% after the National Stock Exchange (NSE) said in a circular on Thursday that it will exclude the company from the derivatives segment.

NSE said United Spirits has not submitted financial results for the year ended 31 March 2014 and the quarter ended 30 June 2014 as required under clause 41 of the listing agreement.

“Thus, fresh month contracts will not be introduced for the expiry month November 2014 on expiration of August 2014 contracts. All existing contracts with expiry dates 25 September 2014 and 30 October 2014 will expire on 18 September 2014", NSE said.

Accordingly, no futures and options contracts will be available in the stock for trading from 19 September, it added.

At 10.56am, the company’s shares were trading at 2,315 on BSE, down 3.62% from their previous close, while the exchange’s benchmark Sensex index gained 0.38% to 26,459.32 points.

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