Description

BSE announces adjustments to NMDC Ltd F&O contracts due to interim dividend of Rs. 2.50 per share, effective February 13, 2026.

Summary

BSE will adjust all Futures and Options contracts in NMDC Ltd (Scrip Code: 526371, Derivative Asset Code: NMDC) on February 12, 2026, due to an interim dividend of Rs. 2.50 per equity share. The adjustments will be effective from February 13, 2026 (ex-date), with February 13, 2026 being the record date for dividend payment for FY 2025-26.

Key Points

  • Interim dividend declared: Rs. 2.50 per equity share for FY 2025-26
  • Record date: February 13, 2026
  • Ex-date: February 13, 2026
  • Adjustment date: February 12, 2026
  • Full dividend value of Rs. 2.50 will be adjusted in all F&O contracts
  • Adjustments made in accordance with SEBI Master Circular SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016
  • Based on Exchange Notice 20180710-26 regarding corporate action adjustments for stock options

Regulatory Changes

No new regulatory changes. This adjustment follows existing framework under SEBI Master Circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016 and Exchange Notice 20180710-26 regarding review of adjustment of corporate actions for stock options.

Compliance Requirements

For Trading Members:

  • Note the adjusted strike prices for Options contracts effective February 13, 2026
  • Note the adjusted futures base price effective February 13, 2026
  • Contact respective relationship managers for further details if required
  • Ensure systems are updated to reflect adjusted contract specifications

Options Contracts Adjustment:

  • Rs. 2.50 will be deducted from all strike prices at end of February 12, 2026
  • Adjusted strike prices available for trading from February 13, 2026

Futures Contracts Adjustment:

  • Adjusted futures price = Reference rate minus Rs. 2.50
  • Reference rate = Daily mark-to-market settlement price on February 12, 2026
  • Adjusted rate serves as base rate/previous close for trading on February 13, 2026

Important Dates

  • February 09, 2026: Notice date
  • February 12, 2026: Adjustment date (cum-dividend trading last day)
  • February 13, 2026: Ex-dividend date (adjusted contracts effective)
  • February 13, 2026: Record date for dividend eligibility

Impact Assessment

Market Impact:

  • All existing NMDC Futures and Options positions will be adjusted
  • Strike prices for all option contracts will be reduced by Rs. 2.50
  • Futures contracts will use adjusted base price (settlement price minus Rs. 2.50)
  • Traders and investors holding derivative positions must account for these adjustments

Operational Impact:

  • Standard corporate action procedure with established adjustment methodology
  • System-driven adjustments minimize operational risk
  • No manual intervention required for position adjustments
  • Members should verify adjusted contract specifications before trading on February 13, 2026

Trading Impact:

  • Continuity of positions maintained through automatic adjustment
  • No disruption to trading activities expected
  • Price discovery mechanism adjusted to reflect dividend payout

Impact Justification

Standard dividend adjustment for F&O contracts affecting all NMDC derivative positions. Material impact on strike prices and futures pricing but routine corporate action procedure.