NSE to Drop Polycab India From F&O Segment on December 30

what happened

The National Stock Exchange of India (NSE) said on October 12 that Polycab India Ltd will be removed from its equity derivatives segment. Trading in the company’s futures and options will end on December 30, 2026, after Polycab was selected for action under the Insolvency and Bankruptcy Code (IBC). cnbctv18.com reported the exchange’s decision, citing its October 12 circular.

Once the October 2026 contracts expire, the exchange will not introduce contracts for later expiry months. Contracts expiring in October, November and December 2026 will remain tradable until their respective expiry dates. NSE will impose a 100% margin on every existing derivative contract on a T+2-day basis. The requirement covers open positions on October 13, 2026, as well as positions opened from October 14 onward.

After the current contracts expire, additional surveillance rules will take effect from January 1, 2027. These measures include price bands and gross settlement under the IBC framework. They follow earlier exchange circulars dated August 7 and October 12, 2026, concerning securities covered by the IBC framework.

In the first quarter, Polycab India’s revenue rose 39% year on year to ₹8,209 crore, above the CNBC-TV18 poll estimate of ₹7,902 crore and last year’s ₹5,906 crore. EBITDA increased 32.5% to ₹1,136 crore, versus expectations of ₹1,062 crore and ₹857.7 crore a year earlier. EBITDA margin contracted 70 basis points to 13.8%, compared with the poll’s 13.4% estimate. Wires and cables revenue grew 38% to ₹7,202 crore, while segment EBIT reached ₹959 crore from ₹756 crore. Motilal Oswal had estimated 35% growth. Polycab India shares closed on the BSE at ₹8,414.00, up ₹164.00, or 1.99%.

why it matters

The move raises trading and collateral requirements for Polycab India derivatives. After the existing contracts end, tighter surveillance and settlement rules will apply while the company remains under the IBC framework.

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