NSE, BSE to exclude United Spirits from futures and options segment

The Bombay Stock Exchange and the National Stock Exchange will drop United Spirits from futures and options segment as the company failed to submitted financial results for the year ended March 31, 2014 and quarter ended June 30, 2014 as required under Clause 41 of the listing agreement.

Individual circulars released by the exchanges said that no fresh month contracts for the expiry month November would be issued on expiration of existing August month contract.

In fact, all the existing contracts, i.e., contracts with expiry month September and October will expire on September 18, 2014.

Accordingly, no future and option (F&O) contract on the United Spirits Ltd scrip shall be available for trading on equity derivative segment of the exchange with effect from September 19, 2014 onwards, the exchanges said in a circular on Thursday.

The decision came as the company failed to comply with listing agreement including timely submission of financial results.

Earlier this week, the National Stock Exchange (NSE) said that United Spirits will be replaced by Zee Entertainment Enterprises in the Nifty from September 19.