NSE to not issue new futures and options contract for Zee Entertainment: Report

The National Stock Exchange announced that it will not issue any new futures and options contracts for Zee Entertainment after the expiration of the existing contract.

Futures and Options contract to Zee

NSE stated that Zee has been excluded from futures and options contracts based on "SEBI Circular Ref. No: SEBI/HO/MRD2/PoD-2/CIR/P/2023/171 dated October 16, 2023 and chapter 3.5 of Exchange circular No. NSE/FAOP/57264 dated June 23, 2023 regarding eligibility criteria of stocks. Accordingly, no contracts shall be available for trading in the above-mentioned security with effect from June 28 2024".

However, this would not affect the current unexpired contracts. These contracts in April, May, and June 2024 will remain open for trading, and new strike options will be introduced within these existing contract months.

Also Read: Zee moves NCLAT against Sony India's termination of merger deal

In February 2023 too, NSE had removed Zee from the F&O Segment after the National Company Law Tribunal (NCLT), admitted an insolvency plea filed by IndusInd Bank. However, as the NCLT provided interim relief to the media firm by staying the bankruptcy proceedings against it, the stock exchange reversed the action