NSE to revise lot size for 106 F&O contracts
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
FUTURES AND OPTIONS SEGMENT
CIRCULAR
Circular No.: NSE/F&O/108/2007 Date: December 7, 2007
Download No. NSE/FAOP/9871
Dear Members,
Subject: Revision of Market
Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR-20/2004/02/23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:
| Sr No | Underlying whose Derivative contract size /value is | Revising methodology | Effective date | Annexure Number for list of underlying |
| 1 | Higher than INR 800,000 | Dividing existing lot by 4 | December 28, 2007 (for all contracts) | 1 |
| 2 | Higher than INR 400,000 | Dividing existing lot by 2 | December 28, 2007 (for all contracts) | 2 |
| 3 | Higher than INR 800,000 but lot size not exactly divisible by 4 | Dividing existing lot by 4 & rounding off to nearest even integer. | December 28, 2007 (for March 2008 & later expiries) | 3 |
| 4 | Higher than INR 400,000 but lot size not exactly divisible by 2 | Dividing existing lot by 2 & rounding off to nearest even integer. | December 28, 2007 (for March 2008 & later expiries) | 4 |
| 5 | Lower than INR 200,000 | Multiplying existing lot by 2 | December 28, 2007 (for March 2008 & later expiries) | 5 |
To avoid operational complexities, in cases 3, 4 & 5 above, only the far month contract i.e. March 2008 expiry contracts will be revised for market lots. Contracts with maturity of January 2008 and February 2008 would continue to have the existing market lots. All subsequent contracts (i.e., March 2008 expiry and beyond) will have revised market lots.
For any clarifications, members are advised to contact the following officials:
Mr. Sachin Dhar, Mr. Janardhan Gujaran and Mr. Arvind Goyal at 26598151 or 26598152
Yours faithfully,
For National Stock Exchange of India Ltd.
T
Vice President
Annexure-1
List of underlying in which market lot is being revised downwards:
| Sr No | Underlying | Symbol | Present Market | Revised market Lot |
| 1 | Aban Offshore Ltd. | ABAN | 200 | 50 |
| 2 | Bharat Heavy Electricals Ltd. | BHEL | 300 | 75 |
| 3 | GMR Infrastructure Ltd. | GMRINFRA | 5000 | 1250 |
| 4 | Larsen & Toubro Ltd. | LT | 200 | 50 |
| 5 | Mangalore Refinery And Petrochemicals Ltd. | MRPL | 8900 | 2225 |
| 6 | Nagarjuna Fertiliser & Chemicals Ltd. | NAGARFERT | 14000 | 3500 |
| 7 | Neyveli Lignite Corporation Ltd. | NEYVELILIG | 5900 | 1475 |
| 8 | Triveni Engg. & Inds. Ltd. | TRIVENI | 7700 | 1925 |
| 9 | Voltas Ltd. | | 3600 | 900 |
Annexure-2
List of underlying in which market lot is being revised downwards:
| Sr No | Underlying | Symbol | Present Market | Revised market Lot |
| 1 | ABB Ltd. | ABB | 500 | 250 |
| 2 | Adlabs Films Ltd | ADLABSFILM | 450 | 225 |
| 3 | Deccan Aviation Limited | AIRDECCAN | 1700 | 850 |
| 4 | Alstom Projects India Ltd | APIL | 400 | 200 |
| 5 | Axis Bank Ltd. | AXISBANK | 450 | 225 |
| 6 | Bajaj Hindustan Ltd. | BAJAJHIND | 1900 | 950 |
| 7 | Balrampur Chini Mills Ltd. | BALRAMCHIN | 4800 | 2400 |
| 8 | Bank Of | BANKBARODA | 1400 | 700 |
| 9 | Bank Of | BANKINDIA | 1900 | 950 |
| 10 | BANK Nifty | BANKNIFTY | 50 | 25 |
| 11 | Bharat Earth Movers Ltd. | BEML | 250 | 125 |
| 12 | Bharti Airtel Ltd | BHARTIARTL | 500 | 250 |
| 13 | Bongaigaon Refinery Ltd. | BONGAIREFN | 4500 | 2250 |
| 14 | Bharat Petroleum Corporation Ltd. | BPCL | 1100 | 550 |
| 15 | Cairn India Limited | CAIRN | 2500 | 1250 |
| 16 | Canara Bank | CANBK | 1600 | 800 |
| 17 | Chambal Fertilizers Ltd. | CHAMBLFERT | 6900 | 3450 |
| 18 | Chennai Petroleum Corporation Ltd. | CHENNPETRO | 1800 | 900 |
| 19 | Corporation Bank | CORPBANK | 1200 | 600 |
| 20 | Crompton Greaves Ltd. | CROMPGREAV | 1000 | 500 |
| 21 | Cummins India Ltd | CUMMINSIND | 950 | 475 |
| 22 | Dena Bank | DENABANK | 5250 | 2625 |
| 23 | DIVI’S Laboratories Ltd. | DIVISLAB | 310 | 155 |
| 24 | Educomp Solutions Ltd | EDUCOMP | 150 | 75 |
| 25 | Federal Bank Ltd. | FEDERALBNK | 1702 | 851 |
| 26 | The Great Eastern Shipping Co. Ltd. | GESHIP | 1200 | 600 |
| 27 | Gujarat Narmada Fertilizer Co. Ltd. | GNFC | 2950 | 1475 |
| 28 | GTL Ltd. | GTL | 1500 | 750 |
| 29 | Housing Development Finance Corporation Ltd. | HDFC | 150 | 75 |
| 30 | Hindustan Zinc Limited | HINDZINC | 500 | 250 |
| 31 | ICICI Bank Ltd. | ICICIBANK | 350 | 175 |
| 32 | Industrial Development Bank Of India Ltd. | IDBI | 2400 | 1200 |
| 33 | Infrastructure Development Finance Company Ltd. | IDFC | 2950 | 1475 |
| 34 | India Cements Ltd. | INDIACEM | 1450 | 725 |
| 35 | India Infoline Limited | INDIAINFO | 500 | 250 |
| 36 | Indian Bank | INDIANB | 2200 | 1100 |
| 37 | Indusind Bank Ltd. | INDUSINDBK | 3850 | 1925 |
| 38 | Indian Overseas Bank | IOB | 2950 | 1475 |
| 39 | Itc Ltd. | ITC | 2250 | 1125 |
| 40 | Jaiprakash Associates Ltd. | JPASSOCIAT | 300 | 150 |
| 41 | Jaiprakash Hydro-Power Ltd. | JPHYDRO | 6250 | 3125 |
| 42 | Jindal Stainless Ltd. | JSTAINLESS | 2000 | 1000 |
| 43 | JSW Steel Ltd. | JSWSTEEL | 550 | 275 |
| 44 | Kotak Mahindra Bank Ltd. | KOTAKBANK | 550 | 275 |
| 45 | LIC Housing Finance Ltd | LICHSGFIN | 1700 | 850 |
| 46 | Lanco Infratech Ltd. | LITL | 850 | 425 |
| 47 | Maruti Udyog Ltd. | MARUTI | 400 | 200 |
| 48 | United Spirits Ltd. | MCDOWELL-N | 250 | 125 |
| 49 | National Aluminium Co. Ltd. | NATIONALUM | 1150 | 575 |
| 50 | NDTV Ltd. | NDTV | 1100 | 550 |
| 51 | Patel Engineering Ltd. | PATELENG | 500 | 250 |
| 52 | Petronet Lng Limited | PETRONET | 4400 | 2200 |
| 53 | Power Finance Corporation Ltd. | PFC | 2400 | 1200 |
| 54 | Power Grid Corporation Of India Ltd. | POWERGRID | 3850 | 1925 |
| 55 | Praj Industries Ltd. | PRAJIND | 2200 | 1100 |
| 56 | Punj Lloyd Ltd. | PUNJLLOYD | 1500 | 750 |
| 57 | Rajesh Exports Ltd | RAJESHEXPO | 550 | 275 |
| 58 | Reliance Communications Ltd. | RCOM | 700 | 350 |
| 59 | Reliance Industries Ltd. | RELIANCE | 150 | 75 |
| 60 | Shree Renuka Sugars Ltd. | RENUKA | 1000 | 500 |
| 61 | Reliance Petroleum Ltd. | RPL | 3350 | 1675 |
| 62 | Steel Authority Of India Ltd. | SAIL | 2700 | 1350 |
| 63 | State Bank Of | SBIN | 250 | 125 |
| 64 | Shipping Corporation Of India Ltd. | SCI | 1600 | 800 |
| 65 | Sesa Goa Ltd. | SESAGOA | 150 | 75 |
| 66 | | SKUMARSYNF | 2600 | 1300 |
| 67 | Sterlite Industries (I) Ltd | STER | 438 | 219 |
| 68 | Syndicate Bank | SYNDIBANK | 3800 | 1900 |
| 69 | Tata Chemicals Ltd | TATACHEM | 1350 | 675 |
| 70 | Tata Power Co. Ltd. | TATAPOWER | 400 | 200 |
| 71 | Tata Steel Ltd. | TATASTEEL | 764 | 382 |
| 72 | Tata Tea Ltd. | TATATEA | 550 | 275 |
| 73 | Tata Teleservices ( | TTML | 10450 | 5225 |
| 74 | Vijaya Bank | VIJAYABANK | 6900 | 3450 |
Annexure-3
List of underlying in which market lot is being revised downward and rounded off to nearest even integer:
| Sr No | Underlying | Symbol | Present Market | Revised market Lot |
| 1 | Essar Oil Ltd. | ESSAROIL | 5650 | 1412 |
| 2 | IFCI Ltd. | IFCI | 7875 | 1970 |
| 3 | Jindal Steel & Power Ltd | JINDALSTEL | 125 | 32 |
| 4 | Reliance Energy Ltd. | REL | 550 | 138 |
| 5 | Reliance Capital Ltd | RELCAPITAL | 550 | 138 |
| 6 | Reliance Natural Resources Ltd. | RNRL | 7150 | 1788 |
Annexure-4
List of underlying in which market lot is being revised downward and rounded off to nearest even integer:
| Sr No | Underlying | Symbol | Present Market | Revised market Lot |
| 1 | Associated Cement Co. Ltd. | ACC | 375 | 188 |
| 2 | Bharat Electronics Ltd. | BEL | 275 | 138 |
| 3 | Century Textiles Ltd | CENTURYTEX | 425 | 212 |
Annexure-5
List of underlying in which market lot is being revised upwards:
| Sr No | Underlying | Symbol | Present Market | Revised market Lot |
| 1 | 3I Infotech Ltd. | 3IINFOTECH | 1350 | 2700 |
| 2 | Ansal Prop & Infra Ltd | ANSALINFRA | 650 | 1300 |
| 3 | Aurobindo Pharma Ltd. | AUROPHARMA | 350 | 700 |
| 4 | Hinduja Ventures Ltd. | HINDUJAVEN | 250 | 500 |
| 5 | HTMT Global Solutions Ltd. | HTMTGLOBAL | 250 | 500 |
| 6 | Infosys Technologies Ltd. | INFOSYSTCH | 100 | 200 |
| 7 | IVR Prime Urban Developers Ltd. | IVRPRIME | 400 | 800 |
| 8 | Lupin Ltd. | LUPIN | 350 | 700 |
| 9 | NIIT Technologies Ltd. | NIITTECH | 600 | 1200 |
| 10 | Polaris Software Lab Ltd. | POLARIS | 1400 | 2800 |
| 11 | Sasken Commu Techno Ltd | SASKEN | 550 | 1100 |
| 12 | Sterling Biotech Ltd | STERLINBIO | 1250 | 2500 |
| 13 | Sun TV Network Ltd. | SUNTV | 500 | 1000 |
| 14 | Ultratech Cement Ltd. | ULTRACEMCO | 200 | 400 |
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