Financial Daily from THE HINDU group of publications
Saturday, Dec 24, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 24, 2005 |
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Markets
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Derivatives Markets Corporate - Restructuring Reliance F&O: NSE cancels Jan 17 trading, fixes Jan 18 as ex-date to adjust de-merger Our Bureau
Mumbai , Dec. 23 NSE has decided to cancel trading on Reliance Industries' futures and options on January 17, 2006 and issue fresh contracts from January 18 to adjust for de-merger of the company. The exchange has also fixed January 18 as the ex-date to accommodate for the de-merger. It means that investors who buy shares up to January 17, will be entitled for the shares of new companies. The company has fixed January 25 as the record date for this. On F&O contracts, NSE in a notice said, fresh month contracts will not be introduced for March 2006 on the expiration of December 2005 contracts. All existing series - contracts with expiry dates January 25, 2006 and February 23, 2006 will expire on January 17, 2006. National Securities Clearing Corporation would separately intimate the methodology for settlement, the notice said. Derivatives contracts on Reliance would be reintroduced from January 18, 2006.
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