Description
Adjustment of F&O contracts for BPCL due to dividend of Rs 10/- per share with ex-date February 02, 2026. Strike prices revised for February and March expiries.
Summary
NSE has announced adjustment of Futures and Options contracts for Bharat Petroleum Corporation Limited (BPCL) following declaration of dividend of Rs 10/- per share (face value Rs 10/-). The ex-date is February 02, 2026, and revised strike prices will be effective from this date. Members must load updated contract and spread files before trading on the ex-date.
Key Points
- Company: Bharat Petroleum Corporation Limited (BPCL)
- Corporate Action: Dividend
- Dividend Amount: Rs 10/- per share
- Face Value: Rs 10/-
- Ex-Date: February 02, 2026
- Affected Instruments: Futures and Options contracts
- Strike prices adjusted downward by Rs 10 across all strikes
- Revised strike prices available in Annexure 1
- 59 option strikes listed (25 for February expiry, 34 for March expiry)
Regulatory Changes
No new regulatory changes. Adjustments made in pursuance of existing SEBI guidelines for F&O contract adjustments on corporate actions.
Compliance Requirements
- Trading Members: Must load updated contract files (NSE_FO_contract_ddmmyyyy.csv.gz) and spread files (NSE_FO_spdcontract_ddmmyyyy.csv.gz) on trading applications before trading on February 02, 2026
- File Location: Available on Extranet server at faoftp/faocommon directory
- Alternative Source: MII contract and spread files available on NSE website at https://www.nseindia.com/all-reports-derivatives
- Adjustment Details: Available at https://www.nseindia.com/products-services/equity-derivatives-corporate-actions-adjustments
- Position Adjustments: Methodology to be separately intimated by respective Clearing Corporation
Important Dates
- Ex-Date and Effective Date: February 02, 2026
- February Expiry: February 24, 2026
- March Expiry: March 30, 2026
Impact Assessment
Market Impact: All existing BPCL F&O contract holders will see their strike prices adjusted downward by Rs 10. For example, the 300 strike becomes 290, 310 becomes 300, etc. This affects both call and put option positions across February and March expiries.
Operational Impact:
- Revised strike prices and futures base prices will appear in decimal places and be rounded to nearest tick size
- Lot sizes will be rounded to nearest integer
- Trading systems must be updated with new contract specifications before ex-date
- Position adjustments will follow methodology from Clearing Corporation
Trader Impact: Medium impact for active BPCL derivative traders who must account for adjusted strikes and ensure their systems reflect updated contract parameters.
Impact Justification
Routine dividend adjustment affecting F&O contracts for BPCL. Material impact on derivative positions but standard corporate action procedure.