Shares of select companies rallied upto nearly 9 per cent in intra-day trade on Friday, after being included in the derivatives segment (Futures & Options contracts) on the National Stock Exchange (NSE) with effect from today.
On August 9, the NSE announced inclusion of the futures and options (F&O) contracts of 10 additional securities for trading w.e.f. August 27, 2021 subject to fulfilment of eligibility criteria. These include Can Fin Homes, Dixon Technologies, Hindustan Aeronautics (HAL), Indian Energy Exchange (IEX), IndiaMART InterMESH, Ipca Lab, MCX, Oracle Financial Services, Polycab India and Syngene International. The move expected to boost participation as investors and institutions can hedge underlying positions in the stock.
Among individual stocks, HAL hit a fresh 52-week high of Rs 1,399. The counter rallied 9 per cent on the NSE in intraday deals. The trading volumes jumped 1.5 times with a combined around 4 million equity shares changing hands on the NSE and BSE.
In past seven trading days, HAL has soared 31 per cent after the company said it has signed $716 million deal with GE Aviation for procurement of 99 engines for manufacturing 83 LCA Tejas for Indian Air Force (IAF). On February 3, HAL informed exchanges that the government had formally sealed the deal of around Rs 48,000 crore (inclusive of taxes and duties of around Rs 7,000 crore; infrastructure and design & development cost of around Rs 2,300 crore) for procuring 73 indigenous LCA Tejas Mk-1A fighter aircraft and 10 LCA Tejas Mk-1 trainer aircraft from the company.
Among the other individual stocks, Can Fin Homes, Polycab India, IndiaMART InterMESH, Oracle Financial Services, Syngene International, Dixon Technologies, MCX and Ipca Laboratories gained between 2 per cent and 3 per cent in intra-day trade. In comparison, the Nifty50 index was up 0.36 per cent at 16,696 points.