Polycab Drops as NSE Moves to End New Derivatives Contracts
The exchange will stop issuing contracts for new expiry months, while imposing a 100% margin on existing derivatives positions.
Key takeaways
- Polycab shares fell 6% over two sessions after the NSE announced plans to exclude the stock from derivatives.
- The NSE set a 100% margin on existing derivative contracts, effective on a T+2-day basis.
- An appellate tribunal stayed an insolvency order against Polycab pending further orders.
Polycab India shares fell 6% over two sessions after the National Stock Exchange said it would stop issuing derivatives contracts for new expiry months. The stock reached an intraday low of 7,883 rupees on Wednesday. As of 05:48 UTC, it traded at 8,220.5 rupees, down 0.84% from the previous close.
The NSE said existing October, November and December contracts would continue trading as usual, with new strike prices introduced before their discontinuation. It also set a 100% margin on existing derivative contracts on a T+2-day basis, covering open positions as of October 13 and new positions from October 14.
Separately, Polycab said an appellate tribunal had stayed an insolvency order against it over alleged operational dues of 2.79 crore rupees. The appeal is scheduled for a hearing on October 26, 2026.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
