NSE to stop derivative trading in Fortis

NEW DELHI: Leading stock exchange NSE today 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 transfer of funds to some promoter-linked firms. The regulator has asked the company to furnish the information by February 26.

Original Article

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