Stay informed with the latest NSE circular regarding the removal of FSL and TORONTPOWER from the FNO market on March 30, 2023. Learn about the impact on stock prices and settlement of contracts.
Removal of FSL and TORONTPOWER from the FNO
On January 20, 2023, the National Stock Exchange (NSE) vide circular no. NSE/FAOP/55309, has announced its decision to exclude FIRSTSOURCE SOLUTIONS LIMITED (FSL) and TORRENT POWER LIMITED (TORNTPOWER) from the futures and options (F&O) segment. This means that new F&O contracts for these companies will not be issued after March 30, 2023. This decision is based on a review of the framework for stocks in the derivatives segment by the Securities and Exchange Board of India (SEBI).
Last Date in F&O
Investors will be able to trade in F&O for FSL and TORNTPOWER till March 30, 2023. After that, new contracts for FSL and TORNTPOWER will not be issued and these companies will not be a part of the F&O segment. Any contract that remains unsettled on March 30, 2023, will be settled by delivery.
About FSL and TORNTPOWER
FIRSTSOURCE SOLUTIONS LIMITED (FSL) is a business process outsourcing and IT company, which provides services to clients in the banking and financial services, healthcare, telecommunications and media, and insurance sectors. TORRENT POWER LIMITED (TORNTPOWER) is in the business of power generation and distribution, it is an integrated power utility company engaged in the business of generation, transmission, and distribution of power. FSL closed at 102.65 on NSE on January 20, 2023, its 52-week high is 171.45 and its low is 93. TORNTPOWER closed at 460 and its 52-week high is 610 and its low is 415.25.
Impact of Removal from F&O
There may have an impact of the removal of FSL and TORONTPOWER from the FNO on investors, it is important to note that FSL and TORNTPOWER will continue to trade in the equity segment and their underlying business performance will continue to drive their stock prices. It is important for investors to consider all available information before making any investment decisions.