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The National Stock Exchange of India (NSE) has announced that it will remove four companies — Cyient Ltd, HFCL Ltd, NCC Ltd, and Titagarh Rail Systems Ltd — from the Futures and Options (F&O) segment. This change will be effective from the January 2026 expiry.

For unaware, F&O or Futures and Options, are financial derivatives that allow you to speculate on the future price of an underlying asset like stocks, commodities, or indices without owning the asset itself.

In a circular issued on October 24, the exchange stated that the existing contracts of these securities will continue to be available for trading till the December 2025 expiry. However, no new F&O contracts will be introduced on these stocks after the January 2026 expiry.

NSE clarified that the unexpired contracts with October 2025, November 2025, and December 2025 expiries will continue to be available for trading till their respective expiry dates.

The circular also mentioned that new strike prices will be introduced in the existing contracts during these three expiry months — October, November, and December 2025 — to enable traders to manage their positions.

After the December 2025 expiry, no derivative contracts will be available for trading in these four securities — Cyient, HFCL, NCC, and Titagarh Rail Systems.

NSE stated that this step is in accordance with the Securities and Exchange Board of India (SEBI) circular dated August 30, 2024, which revised and tightened the eligibility criteria for derivatives trading.

As per the circular, this change means that F&O traders will have exposure to these stocks only till December 2025, after which futures and options trading in these securities will be discontinued.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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