Description

BSE will adjust all F&O contracts for Bharat Petroleum Corporation Ltd due to interim dividend of Rs. 10/- per share with ex-date February 02, 2026.

Summary

BSE has announced mandatory adjustments to all Futures and Options contracts for Bharat Petroleum Corporation Ltd (BPCL, Scrip Code: 500547) due to an interim dividend of Rs. 10.00 per equity share. The adjustments will be made on February 01, 2026, with the ex-dividend date being February 02, 2026. All option strike prices will be reduced by Rs. 10.00, and futures contracts will be adjusted using the reference rate minus the dividend amount.

Key Points

  • Company: Bharat Petroleum Corporation Ltd (Derivative Asset Code: BPCL, Equity Scrip Code: 500547)
  • Corporate Action: Interim dividend of Rs. 10.00 per equity share for FY 2025-26
  • Record Date: February 02, 2026
  • Ex-Date: February 02, 2026 (Monday)
  • Adjustment Date: February 01, 2026 (Sunday)
  • All existing Futures and Options contracts will be adjusted
  • Options: Rs. 10.00 will be deducted from all strike prices
  • Futures: Adjusted price = Reference rate (daily mark-to-market settlement price on Feb 01) minus Rs. 10.00

Regulatory Changes

This adjustment is made in pursuance of:

  • BSE Exchange Notice No. 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 the Equity Derivatives Segment must note the adjustments
  • Adjusted strike prices for options contracts will be available for trading from February 02, 2026
  • Adjusted futures price will serve as the base rate/previous close for trading on February 02, 2026
  • Members should contact their respective relationship managers for further details

Important Dates

  • January 28, 2026: Notice date
  • February 01, 2026: Adjustment execution date (Sunday)
  • February 02, 2026: Ex-dividend date and first trading day with adjusted contracts (Monday)
  • February 02, 2026: Record date for dividend eligibility

Impact Assessment

Market Impact: High - All traders with open positions in BPCL futures and options must account for the Rs. 10.00 adjustment in their positions. This affects pricing, strike prices, and settlement calculations.

Options Contracts: All strike prices will be reduced by Rs. 10.00, potentially affecting the moneyness of existing positions (ITM/ATM/OTM status may change).

Futures Contracts: The adjusted base price for February 02, 2026 trading will be the February 01, 2026 settlement price minus Rs. 10.00, which will impact mark-to-market calculations and margin requirements.

Trading Strategy: Traders need to adjust their strategies and hedging positions to account for the dividend adjustment, particularly those holding positions across the ex-dividend date.

Impact Justification

Mandatory adjustment affecting all existing F&O positions in BPCL with immediate impact on strike prices and futures pricing from February 02, 2026