BSE, NSE remove Satyam from F&O segment

MUMBAI: The Bombay Stock Exchange and the National Stock Exchange today said separately Satyam will be removed from the Futures and Options segment and its contracts will not be available for trading from January 30.

The two bourses said in separate circulars that Satyam has been excluded from the Futures and Option segment due to the recent developments in the firm.

The Satyam F&O contracts would not be available for trading from January 30, 2009 onwards, the circulars added.

However, the exchanges mentioned that the scrip would remain available for trading in the capital market segment.

"Fresh month contracts will not be introduced for the expiry month April 2009 on the expiration of January 2009 contracts. All existing contracts, that is, contracts with expiry dates February 26, 2009 and March 26, 2009 will expire on January 29, 2009," the circulars stated.

Further, BSE has also shifted Satyam to group B from Group A with effect from January 12. Godrej Consumer Products has been included in group A in place of Satyam, a BSE circular said.

Group A stocks represent active companies with huge amount of capital, which are frequently traded and command higher price earning multiples. Stocks in Group B are not traded in the Futures and Options segment and have low capitalisation.