After Bhushan Steels, it is United Spirits which is the second top loser on the BSE. With volumes rising almost 1.5 times, the stock is down currently 4% at Rs.2307, a fall of over Rs.95/share since yesterday’s close of Rs.2402.

The stock is down as after being shunted out on the  benchmark 50-share Nifty Index, CNX Nifty Junior Index, CNX 100 Index, CNX, 200 Index, CNX 500 Index, CNX FMCG Index, CNX Consumption Index, LIX 15 Index and NI15; it will now be excluded from the NSE’s equity derivatives or F&O segment.

The NSE has stated that this exclusion is because the company has not submitted financial results for the year ended 31 March 2014 and quarter ended 30 June 2014 as required under the listing agreement.

What this means is that fresh month contracts will not be introduced for the expiry month November 2014, on the expiration of August 2014 contracts. All existing contracts i.e. contracts with expiry dates 25 September 2014 and 30 October 2014 will expire on 18 September 2014. Accordingly, no F&O contracts will be available in the underlying United Spirits for trading from 19 September 2014 onwards.