Over 1,000 securities not to be accepted as collateral from Aug 1
National Stock Exchange updates collateral criteria, leading to exclusion of stocks like Adani Power and Yes Bank. Over 1,000 securities affected. Changes in effect from August 1. Investors advised to review their portfolios.
Starting August 1, stocks such as , , , , , , , , Go Digit, , , and , among 1,010 securities, will not be accepted as . This change comes as the () revises the for eligible as collateral.NSE Clearing (NCL) will now accept only those stocks that have been traded at least 99% of the days over the previous six months and have an of up to 0.1% for an order value of ₹1 lakh.
According to a list published by NSE, about 1,010 stocks will not be for acceptance as collateral from August 1.
To allow to replace the existing unapproved securities, NCL will continue to provide of such existing unapproved securities repledged with NCL as of July 31, 2024, after applying the haircut.
From August 1, the applicable haircut is 40% or VAR (value at risk), whichever is higher. The haircut will increase to 60% from September 1, 80% from October 1, and 100% from November 1.
, , , , Hatsun Agro Product, Tejas Networks, Swan Energy are the other stocks not eligible for collateral.
Source: Stocks-Markets-Economic Times
