Description
NSE Clearing Limited revises Market Wide Position Limit (MWPL) and participant/client limits for HIRECT in the Securities Lending and Borrowing Scheme, effective March 30, 2026.
Summary
NSE Clearing Limited (NCL) has revised the Market Wide Position Limit (MWPL) and associated participant, institutional client, and non-institutional client limits for the symbol HIRECT under the Securities Lending and Borrowing Scheme (SLBS). The revised limits are effective from March 30, 2026, and represent approximately a doubling of the previous limits.
Key Points
- Circular reference: NCL/CMPT/73510 (Circular Ref. No: 036/2026)
- Limits revised for symbol HIRECT in the Securities Lending and Borrowing Scheme
- All limits have been approximately doubled compared to previous levels
- Effective date: March 30, 2026
- Issued pursuant to circular NCL/CMPT/67763 (April 30, 2025) and partial modification of NCL/CMPT/73070 (February 27, 2026)
Regulatory Changes
Old Limits for HIRECT
| Limit Type | No. of Shares |
|---|---|
| Market Wide Position Limit (MWPL) | 9,63,495 |
| Institutional Client Limit | 96,349 |
| Participant Limit | 96,349 |
| Non-Institutional Client Limit | 9,634 |
New Limits for HIRECT (effective March 30, 2026)
| Limit Type | No. of Shares |
|---|---|
| Market Wide Position Limit (MWPL) | 19,26,990 |
| Institutional Client Limit | 1,92,699 |
| Participant Limit | 1,92,699 |
| Non-Institutional Client Limit | 19,269 |
Compliance Requirements
- All Participants and Custodians are advised to take note of the revised limits.
- Systems and risk frameworks should be updated to reflect the new MWPL and client-level limits for HIRECT effective March 30, 2026.
Important Dates
- March 27, 2026: Circular issuance date
- March 30, 2026: Effective date for revised limits
Impact Assessment
The doubling of MWPL and associated limits for HIRECT in the SLBS increases the capacity for securities lending and borrowing activity in this stock. Participants and institutional clients will be able to take larger positions, potentially improving liquidity in the SLBS market for HIRECT. Non-institutional clients see their limit increase from 9,634 to 19,269 shares. The change is stock-specific and operational in nature, with moderate market impact limited to SLBS participants active in HIRECT.
Impact Justification
This circular doubles position limits for HIRECT in the SLBS, directly affecting participants, institutional and non-institutional clients trading this security. Impact is moderate as it applies to a single stock's lending/borrowing scheme limits.