Adani Total Gas, Aditya Birla Fashion, SJVN Among 8 Stocks to Exit NSE’s F&O Segment from August 29

The futures and options (F&O) space on the National Stock Exchange (NSE) is about to see a reshuffle. With the September F&O series beginning Friday, August 29, eight well-known stocks—including Adani Total Gas, Aditya Birla Fashion, and SJVN—will no longer be available in the derivatives market. Instead, these names will continue trading only in the cash segment.

This move, announced earlier by the NSE on June 23, comes into effect as the current contracts expire.

Which Stocks Are Being Excluded?

The NSE has confirmed that no new F&O contracts will be issued for these companies after the expiry of existing ones. Here’s the full list of stocks moving out:

• Aditya Birla Fashion and Retail (ABFRL)
  
  
• Adani Total Gas (ATGL)
  
  
• CESC Limited
  
  
• Granules India Limited
  
  
• IRB Infrastructure Developers Limited
  
  
• Jindal Stainless Limited (JSL)
  
  
• Poonawalla Fincorp Limited
  
  
• SJVN Limited
  
  

While these counters are leaving the F&O segment, investors can still buy and sell them in the cash market.

Why Are These Stocks Being Removed from F&O?

Exchanges apply strict eligibility filters to decide which stocks can be traded in the derivatives market. Removal usually happens if companies fail to meet these criteria over a sustained period.

Some of the key benchmarks include:

• The stock must be part of the top 500 companies by average daily market capitalization and trading value (last six months).
  
  
• Median quarter-sigma value must remain above ₹75 lakh during the review period.
  
  
• Market-wide position limit (MWPL) should be above ₹1,500 crore.
  
  
• Average daily traded value in the cash market should not fall below ₹35 lakh.
  
  

If a company fails on these measures, its F&O contracts are withdrawn. Importantly, once a stock is excluded, it cannot re-enter the F&O universe for at least one year. To come back, it must clear all these hurdles consistently for six straight months.

Market Mood Around the Announcement

The news of exclusion arrives at a time when Indian equities are already navigating global uncertainty. On Thursday’s session, markets traded weak as 50% tariffs imposed by the US on Indian exports came into effect.

With global trade concerns in the backdrop, the removal of eight stocks from F&O may further shift investor focus toward liquidity in the cash segment. Counters like Aditya Birla Fashion, Adani Total Gas, and SJVN are expected to stay active despite the shift, as investors reassess their trading approach.

Key Takeaways

• Eight stocks exit F&O: Adani Total Gas, Aditya Birla Fashion, SJVN, and five others.
  
  
• Effective date: Friday, August 29, with the September derivatives series.
  
  
• Reason: Failure to meet NSE’s eligibility norms (market cap, MWPL, traded value, liquidity).
  
  
• Cash market still open: Investors can continue trading these names outside derivatives.
  
  
• Re-entry rules: Minimum one-year lockout; must meet criteria for six continuous months.
  
  

Summary

The National Stock Exchange’s move to exclude Adani Total Gas, Aditya Birla Fashion, SJVN, and five other stocks from the F&O segment reflects the regular review process that ensures liquidity and efficiency in derivatives trading. While these stocks lose their futures and options contracts, they remain very much part of the cash market, where trading activity is likely to continue.

The change takes effect from August 29, making it a key date for traders and investors tracking these names.