Description

BSE announces adjustments to BPCL futures and options contracts following the company's interim dividend declaration of Rs. 10/- per share, effective February 02, 2026.

Summary

BSE will adjust all Futures and Options contracts for Bharat Petroleum Corporation Ltd (BPCL, Scrip Code: 500547) on February 01, 2026, following the company’s announcement of an interim dividend of Rs. 10/- per equity share for FY 2025-26. The adjustments will be effective for trading from February 02, 2026 (ex-date), with the record date set as February 02, 2026.

Key Points

  • BPCL has declared an interim dividend of Rs. 10.00/- per equity share for FY 2025-26
  • Record date for dividend payment: February 02, 2026
  • Ex-date for dividend: February 02, 2026
  • Adjustments will be made on Sunday, February 01, 2026
  • All available Futures and Options contracts on BPCL will be adjusted
  • Options: Rs. 10/- will be deducted from all strike prices
  • Futures: Adjusted price = Reference rate (settlement price on Feb 01) minus Rs. 10/-

Regulatory Changes

This adjustment is made in pursuance of:

  • Exchange notice number 20180710-26 regarding Review of Adjustment of corporate actions for stock options
  • SEBI Master circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016

Compliance Requirements

  • Trading members of Equity Derivatives Segment must note the adjusted strike prices and futures base rates
  • Members should contact their respective relationship managers for further details
  • All trading systems must incorporate adjusted rates from February 02, 2026 onwards

Important Dates

  • January 28, 2026: Notice date
  • February 01, 2026: Adjustment date (Sunday)
  • February 02, 2026: Ex-date and record date; adjusted contracts available for trading

Impact Assessment

Market Impact: Medium - The Rs. 10/- dividend adjustment will affect all existing BPCL derivative positions. Options traders will see all strike prices reduced by Rs. 10/-, while futures traders will have their base rates adjusted downward by the dividend amount.

Operational Impact: Derivative market participants holding BPCL positions need to account for the adjustment in their trading strategies and risk management systems. The adjustment follows standard corporate action procedures and maintains market integrity by reflecting the dividend payout in derivative pricing.

Impact Justification

Standard corporate action adjustment affecting derivative contracts for a major oil PSU; traders need to be aware of adjusted strike prices and futures base rates