Description
BSE announces adjustments to NMDC Ltd derivatives contracts due to interim dividend of Rs. 2.50 per share, effective February 13, 2026.
Summary
BSE has announced mandatory adjustments to all Futures and Options contracts for NMDC Ltd (Derivative Asset Code: NMDC, Equity Scrip Code: 526371) due to an interim dividend payment of Rs. 2.50 per equity share for FY 2025-26. The adjustments will be implemented on February 12, 2026, with the ex-date being February 13, 2026. This follows SEBI Master Circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016.
Key Points
- NMDC Ltd declared interim dividend of Rs. 2.50 per equity share for FY 2025-26
- Record date set as February 13, 2026
- All existing Futures and Options contracts on NMDC will be adjusted
- Options: Rs. 2.50 will be deducted from all strike prices
- Futures: Adjusted price = daily mark-to-market settlement price on Feb 12, 2026 minus Rs. 2.50
- Adjustments made on February 12, 2026 (adjustment date)
- Adjusted contracts available for trading from February 13, 2026 (ex-date)
Regulatory Changes
No new regulatory changes introduced. This notice implements existing provisions under:
- 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 adjustments
- Members should contact their respective relationship managers for further details
- All systems must reflect adjusted strike prices for Options contracts from February 13, 2026
- Futures contracts must use adjusted base rate/previous close from February 13, 2026
Important Dates
- February 9, 2026: Notice issued
- February 12, 2026: Adjustment date - Exchange makes necessary adjustments to all Futures & Options contracts
- February 13, 2026: Ex-date - Adjusted contracts available for trading with modified strike prices and base rates
- February 13, 2026: Record date for interim dividend eligibility
Impact Assessment
Market Impact: Medium - affects all traders holding NMDC derivatives positions. The Rs. 2.50 dividend adjustment will impact:
- Options Contracts: All strike prices reduced by Rs. 2.50, affecting pricing and strategy for existing positions
- Futures Contracts: Base price adjustment affects mark-to-market calculations and margin requirements
- Trading Strategy: Traders need to account for adjusted strikes in rolling positions or executing new strategies
- Risk Management: Position valuations will change on ex-date requiring margin adjustments
Operational Impact: Standard corporate action adjustment with established procedures. Trading members must ensure systems properly reflect adjusted contracts from ex-date.
Impact Justification
Standard corporate action adjustment affecting all NMDC derivatives contracts with specific strike price and futures price modifications required for interim dividend payment