NSE to stop derivative trading in Fortis if results not filed by March 1

Fortis Hospital
Leading stock exchange NSE on Thursday said derivative trading in Fortis Healthcare would be stopped if the company fails to submit its financial results for last two quarters by March 1.

Fortis has failed to meet the deadlines for submission of its financial results for the September and December quarters.

The company, on February 13, had intimated to the stock exchanges that its board will consider the financial results of September and December quarters in its meeting to be held on February 28.

"In case Fortis fails to submit to the exchange the financial results duly considered and approved by March 1, 2018 then exchange... shall exclude Fortis from equity derivative segment," NSE said in a circular.

In separate circulars, both top exchanges BSE and NSE said that all the existing futures and options contracts across all expiries of Fortis in equity derivative segment would be expired on March 28.

Accordingly, no futures and options contracts of Fortis shall be available for trading in equity derivatives segment with effect from March 29, 2018, the exchanges said.

Fortis is under scanner of the markets regulator Sebi over alleged regulatory lapses in the transfer of funds to some promoter-linked firms. The regulator has asked the company to furnish the information by February 26.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel