This is pursuant to NSE Circular no. 132/2023 (Download no. 57809) dated August 02, 2023,
regarding Adjustment of Futures and Options contracts in the security POWERGRID. The
following action with regards to clearing and settlement would be taken by NSE Clearing in
this regard.
Adjustment of futures contracts available in POWERGRID shall be carried out based on the
reference rate of the relevant futures contracts on August 07, 2023 (last cum-dividend date).
The reference rate to be reckoned for the purpose of adjustment shall be the daily mark to
market settlement price of the relevant futures contract, which shall be reduced by the
dividend amount.
Accordingly, all positions in futures contracts with the underlying security as POWERGRID
would be marked-to-market on the last cum-dividend date i.e., August 07, 2023, based on the
daily settlement price of the respective futures contract. Subsequent to such processing, open positions shall be carried forward at the daily settlement price less Rs. 04.75 (dividend
amount) for the respective futures contract.
From August 08, 2023 (ex-dividend date), daily mark to market settlement of futures contracts with the underlying security as POWERGRID would continue as per normal procedures.