L&T Finance zooms to top gainer
L&T Finance Holdings is currently the top gainer of the day, up almost 4.5% at Rs.84.65, with an intra day high at Rs.85.65 while volumes have jumped over one time. The stock is tantalizingly close to its 52-week high of Rs.86.15.
The stock is up after the NSE announced that it has decided to include them in the Futures and Options (F&O) segment from tomorrow, 13th March.
In a circular issued by NSE, it has stated, “ The members are hereby notified that the futures and options contracts on Just Dial and L&T Finance Holdings would be available for trading w.e.f. March 13, 2014, as the exchange has received approval from the market regulator Securities and Exchange Board of India.”
Understandably, Just Dial is also up almost 5.5%. Getting into the F&O means one can expect major spike up in volumes. Also, stocks trading in the F&O segment are not subject to daily circuit filters as these stocks are believed to have enough liquidity to absorb heavy buying and selling without shocking changes in prices. Thus there is anticipation of major action in the coming days in these two counters.