Description

BSE revises market-wide position limits for Nuvama Wealth Management Ltd stock derivatives due to stock split, effective January 1, 2026.

Summary

BSE has revised the Market Wide Position Limits (MWPL) for stock derivatives contracts of Nuvama Wealth Management Ltd following a stock split. The new limits apply to Stock Brokers, Foreign Portfolio Investors (FPIs) Category I & II, and Mutual Funds, effective January 1, 2026. This is a partial modification of the circular dated December 29, 2023.

Key Points

  • Position limits revised for Nuvama Wealth Management Ltd (Scrip Code: 543988) due to stock split
  • Market-wide limit set at 1,22,67,678 shares
  • Client/NRI/Scheme of Mutual Fund limit: 12,26,500 shares
  • TM Proprietary limit: 24,53,500 shares
  • TM (Proprietary+Client)/FPI (Cat I)/MF limit: 36,80,000 shares
  • Applies to stock derivatives contracts only
  • Issued by ICCL (Indian Clearing Corporation Limited)

Regulatory Changes

This circular partially modifies circular no. 20231229-46 dated December 29, 2023, updating only the position limits for Nuvama Wealth Management Ltd. The change is necessitated by the stock split announced in notice no. 20251219-72 dated December 19, 2025.

Compliance Requirements

  • Stock Brokers, FPIs (Category I & II), and Mutual Funds must adhere to the revised position limits when trading Nuvama Wealth Management Ltd derivatives
  • Participants should ensure their positions comply with the new limits before the effective date
  • Trading members must monitor client positions against the updated limits
  • Contact ICCL Risk Monitoring team for clarifications: risk.monitoring@icclindia.com

Important Dates

  • Circular Issue Date: December 31, 2025
  • Effective Date: January 1, 2026
  • Related Notice: December 19, 2025 (notice no. 20251219-72)
  • Original Circular: December 29, 2023 (circular no. 20231229-46)

Impact Assessment

Market Impact: Limited to participants trading Nuvama Wealth Management Ltd derivatives. The stock split adjustment maintains proportional position limits relative to the increased share count.

Operational Impact: Trading members and institutional investors need to update their risk management systems with the new position limits. Existing positions should be evaluated against the revised thresholds.

Participant Categories Affected:

  • Stock Brokers (proprietary and client segments)
  • Foreign Portfolio Investors (Category I & II)
  • Mutual Funds
  • Non-Resident Indians (NRIs)

Risk Management: The revised limits ensure proper risk containment post-stock split while allowing adequate market participation across different investor categories.

Impact Justification

Technical adjustment to position limits due to corporate action (stock split). Affects only participants trading Nuvama derivatives, not a broad market change.