Strides and Alembic Pharma to be dropped from F&O

In its circular dated 20th April, the NSE has announced the removal of 2 stocks from the list of F&O eligible list. As per the Review of Framework for Stocks in Derivatives Segment the stocks in the F&O list are taken up for a review after a period of one year.

Based on this review, only those stocks which meet the enhanced eligibility criteria shall remain in derivatives segment. The others not meeting the criteria will be removed from the F&O list.

Accordingly, the NSE has announced that the following 2 stocks will not be available for F&O trading after the expiry of existing contract months. 

1. Alembic Pharmaceuticals Limited (NSE Code: APLLTD)
2. Strides Pharma Science Limited (NSE Code: STAR)

That means, currently, you have April 2022 (near month), May 2022 (mid-Month) and June 2022 (far month) and there will be no F&O contracts after each of these contracts expire on their respective last Thursdays of each of these months.

Accordingly, the exchange has informed members through this circular that the contracts for new expiry months in the above two securities will not be issued on expiry of existing contract months.

The exchange has also clarified that the existing unexpired contracts of the three expiry months of near month, mid-month and far month expiring in April 2022, May 2022 and June 2022 respectively will not have fresh contracts issued after each expiry.

This will ensure that these contracts continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months in the case of options.

Since the June expiry falls on 30th June, there will be no F&O expiries available for trading for the stocks of Alembic Pharmaceuticals Limited and Strides Pharma Science Limited with effect from July 01, 2022. Investors can access the detailed circular on the website of the National Stock exchange, by click on the link below.

https://archives.nseindia.com/content/circulars/FAOP52054.pdf

A brief on Strides Pharma Science Limited

Strides Pharma Science was incorporated in the year 1990. Strides Pharma Science is a global pharmaceutical company which is headquartered in the southern city of Bengaluru. The Company has two key business verticals, viz. Regulated Markets and Emerging Markets.
 

Strides Pharma Science has a global manufacturing footprint with 8 manufacturing facilities spread across 4 continents. This includes 5 US-FDA approved facilities and 2 facilities for the rest of world markets. Strides Pharma Science also has a dedicated R&D facility in India with global filing capabilities as well as a robust export footprint across 100 countries.

A brief on Alembic Pharmaceuticals Limited

The business mix of Alembic Pharmaceuticals can be broadly classified into the following three segments. 

1) Pharmaceuticals Verticals, which entails the manufacture and marketing of fermentation and chemistry based Active Pharmaceuticals Ingredients (APIs). Alembic Pharma is also engaged in Research and Development (R&D) activity at Vadodara in Gujarat.

2) Real Estate Vertical which encompasses construction of residential and commercial real estate projects and project management and marketing consultancy. Alembic has also given several commercial properties on lease basis to various tenants.

3) Power Assets Vertical broadly includes co-generation power plants of total 11 MW and 4 windmills of total 5 MW.