NATIONAL STOCK EXCHANGE OF INDIA LIMITED DEPARTMENT : FUTURES & OPTIONS Download Ref No : NSE/FAOP/34380
Date : March 15, 2017
Circular Ref. No : 17/2017
All Members, Adjustment of Futures and Options contracts in the security BEL In pursuance of SEBI guidelines for adjustments to futures and options contracts on announcement of corporate action, the members are informed of the following: Bharat Electronics Limited has informed the Exchange that the Board of Directors, at its meeting held on January 27, 2017, has considered and approved sub-division of existing one equity share of Rs 10/- each face value fully paid-up into 10 number of equity shares of Re.1/- each face value, subject to approval of the shareholders. Further, the company has fixed Record date as March 17, 2017. Symbol Stock split ratio Ex-date
: BEL : 10:1 : March 16, 2017
Adjustment factor: Adjustment factor for Stock split of A: B is defined as (A/B). In the case of BEL, the adjustment factor is (10/1) = 10, since the split ratio is 10:1. Adjustments for Options Contracts:
1. Strike Price: The adjusted strike price shall be arrived at by dividing the old strike price by the adjustment factor. 2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by the adjustment factor. The revised market lot would be 4500. Adjustments for Futures Contracts: 1. Futures price: The adjusted futures price shall be arrived at by dividing the old futures price by the adjustment factor. 2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by the adjustment factor. The revised market lot would be 4500.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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The methodology for position adjustments has been separately intimated by NSCCL. The above changes shall be effective from March 16, 2017. Members are advised to load the updated contract.gz file in the trading application before trading on March 16, 2017. This file can be obtained from the directory faoftp/faocommon on the Extranet server. The revised Quantity Freeze limit for contracts of BEL with effect from March 16, 2017 will be 270000. The details of the revised option strike prices available and revised strike scheme (step value and number of strikes), applicable for trading in the security BEL are given in Annexure - 1 and Annexure - 2 respectively. For and on behalf of National Stock Exchange of India Limited
Abhijeet Sontakke Senior Manager
Toll Free No 1800-266-0053
Fax No +91-22-26598155
Email id
[email protected]
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Annexure-1
Sr. No. Instrument Symbol 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43
OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK
BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL
Expiry Date 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 30-MAR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 27-APR-2017 25-MAY-2017
Old Strike Price 900.00 950.00 1000.00 1050.00 1100.00 1150.00 1200.00 1250.00 1300.00 1350.00 1400.00 1450.00 1500.00 1550.00 1600.00 1650.00 1700.00 1750.00 1800.00 1850.00 1900.00 900.00 950.00 1000.00 1050.00 1100.00 1150.00 1200.00 1250.00 1300.00 1350.00 1400.00 1450.00 1500.00 1550.00 1600.00 1650.00 1700.00 1750.00 1800.00 1850.00 1900.00 900.00
Revised Strike Price
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
90.00 95.00 100.00 105.00 110.00 115.00 120.00 125.00 130.00 135.00 140.00 145.00 150.00 155.00 160.00 165.00 170.00 175.00 180.00 185.00 190.00 90.00 95.00 100.00 105.00 110.00 115.00 120.00 125.00 130.00 135.00 140.00 145.00 150.00 155.00 160.00 165.00 170.00 175.00 180.00 185.00 190.00 90.00 Page 3 of 4
44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63
OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK OPTSTK
BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL BEL
25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017 25-MAY-2017
950.00 1000.00 1050.00 1100.00 1150.00 1200.00 1250.00 1300.00 1350.00 1400.00 1450.00 1500.00 1550.00 1600.00 1650.00 1700.00 1750.00 1800.00 1850.00 1900.00
95.00 100.00 105.00 110.00 115.00 120.00 125.00 130.00 135.00 140.00 145.00 150.00 155.00 160.00 165.00 170.00 175.00 180.00 185.00 190.00
Annexure - 2 Symbol
Applicable Step value
No. of Strikes Provided In the money - At the money Out of the money
BEL
5
6-1-6
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
No of additional strikes which may be enabled intraday 6
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