Description

BSE announces shut periods for Securities Lending and Borrowing (SLB) operations for six companies declaring dividends between January 16-30, 2026.

Summary

BSE has announced shut periods for Securities Lending and Borrowing (SLB) operations for six companies undertaking dividend-related corporate actions. The shut periods will restrict SLB transactions during book closure/record date periods ranging from January 14-30, 2026. The affected companies include major large-cap stocks: DCM Shriram Limited, Havells India Limited, Siemens Energy India Limited, HCL Technologies Ltd, United Spirits Limited, and Tata Consultancy Services Ltd.

Key Points

  • Six companies have declared dividends with corresponding SLB shut periods
  • Shut periods range from 2 to 5 days per company
  • Ex-dividend dates fall between January 16-30, 2026
  • SLB participants cannot initiate new transactions during shut periods for these securities
  • Both TCS and HCL Technologies share the same shut period (January 14-17, 2026)
  • Havells and Siemens Energy have shut periods of only 2 days each

Regulatory Changes

No new regulatory changes introduced. This circular implements existing SLB framework regulations regarding corporate action shut periods.

Compliance Requirements

  • SLB market participants must not execute new lending or borrowing transactions in the specified securities during their respective shut periods
  • Existing SLB positions may be affected by the book closure periods
  • Trading members must ensure their systems reflect these restrictions during the shut periods
  • Participants should plan their SLB strategies accounting for these restrictions

Important Dates

HCL Technologies Ltd & Tata Consultancy Services Ltd:

  • Ex Date: January 16, 2026
  • Record Date: January 17, 2026
  • Shut Period: January 14-17, 2026

Havells India Limited:

  • Ex Date: January 23, 2026
  • Record Date: January 23, 2026
  • Shut Period: January 22-23, 2026

DCM Shriram Limited:

  • Ex Date: January 23, 2026
  • Record Date: January 24, 2026
  • Shut Period: January 22-24, 2026

United Spirits Limited:

  • Ex Date: January 27, 2026
  • Record Date: January 27, 2026
  • Shut Period: January 23-27, 2026

Siemens Energy India Limited:

  • Ex Date: January 30, 2026
  • Record Date: January 30, 2026
  • Shut Period: January 29-30, 2026

Impact Assessment

Market Impact: Moderate impact on SLB market liquidity for these six securities during their respective shut periods. The affected stocks are high-value, liquid blue-chip companies commonly used in lending and borrowing operations.

Operational Impact: SLB participants must adjust their lending/borrowing strategies and inventory management around these dates. The staggered shut periods across January 14-30 may require careful planning for portfolios containing multiple affected securities.

Trading Impact: No impact on regular equity trading; restrictions apply only to SLB segment. Investors can continue buying/selling these stocks normally in the cash market, subject to standard ex-dividend date rules.

Impact Justification

Affects SLB participants trading in these securities during specified shut periods; impacts liquidity and lending operations for major blue-chip stocks but is routine corporate action.