Piramal, MGL among 5 stocks to exit F&O segment from August: NSE

The National Stock Exchange (NSE) on Wednesday announced that five stocks, including Piramal Enterprises Ltd and Mahanagar Gas Ltd (MGL), will be excluded from the Futures and Options (F&O) segment, effective August 1, 2025.

The move is in accordance with the eligibility criteria prescribed by the Securities and Exchange Board of India (SEBI), the exchange said in a circular dated May 21.

Apart from Piramal and MGL, Aarti Industries, Birlasoft Ltd, and Hindustan Copper Ltd will also be removed from the derivatives segment.

“Contracts for new expiry months in [these] securities will not be issued upon expiry of existing contracts,” the circular stated.

However, the existing contracts expiring in May, June, and July 2025 will remain available for trading until their respective expiry dates.

NSE also clarified that new strike prices would continue to be introduced for the current contract months.

The exclusion is based on SEBI’s revised framework, which mandates that eligible stocks must be among the top 500 in terms of average daily market capitalisation and traded value over a rolling six-month period.

The Median Quarter Sigma Order Size (MQSOS) must now be at least ₹75 lakh, up from ₹25 lakh, while the Market Wide Position Limit (MWPL) requirement has been tripled to ₹1,500 crore from ₹500 crore.

As per the revised norms, the Average Daily Delivery Value (ADDV) in the cash market must be ₹35 crore, up from ₹10 crore, owing to the rise in market activity and the physical settlement nature of single stock derivatives.

Following the announcement, shares of Piramal Enterprises fell over 4% to close at ₹1,089.85 on Thursday. Mahanagar Gas declined 2.36% to ₹1,349, while Birlasoft and Hindustan Copper slipped over 1% each. Aarti Industries remained largely flat.

Earlier this month, the exchange had added 12 stocks to the F&O segment, including Bharat Dynamics, Mazagon Dock Shipbuilders, and Mankind Pharma, as part of its periodic review.