FnO Revision of Market Lot of Derivative Contracts

NSE/FAOP/12491

May 29, 2009

Revision of Market Lot of Derivative Contracts

Subject: Revision of Market Lot of Derivative Contracts

Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR-20/2004/02/23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:

Sr No	Underlying whose Derivative contract size /value is	Revising methodology	Effective date	Annexure Number for list of underlying
1	Higher than INR 800,000	Dividing existing lot by 4	June 26, 2009 (for all contracts)	1
2	Higher than INR 400,000	Dividing existing lot by 2	June 26, 2009 (for all contracts)	2
3	Higher than INR 800,000 but lot size not exactly divisible by 4	Dividing existing lot by 4 & rounding off to nearest even integer.	June 26, 2009 (for September 2009 & later expiries)	3
4	Lower than INR 200,000	Multiplying existing lot by 2 and its multiples	June 26, 2009 (for September 2009 & later expiries)	4

To avoid operational complexities, in case 3 & 4 above, only the far month contract i.e. September 2009 expiry contracts will be revised for market lots. Contracts with maturity of July 2009 and August 2009 would continue to have the existing market lots. All subsequent contracts (i.e., September 2009 expiry and beyond) will have revised market lots.

For any clarifications, members are advised to contact the following officials:

Mr. Sachin Dhar and Mr. Janardhan Gujaran at 26598151 or 26598152

Yours faithfully,

For National Stock Exchange of India Ltd.

Suprabhat Lala

Assistant Vice President

Annexure-1

List of underlying in which market lot is being revised downwards:

Sr No	Underlying	Symbol	Present Market Lot	Revised market Lot
1	Aurobindo Pharma Ltd	AUROPHARMA	2800	700
2	Bajaj Auto Limited	BAJAJ-AUTO	800	200
3	Bajaj Hindusthan Ltd	BAJAJHIND	5700	1425
4	Balrampur Chini Mills Ltd	BALRAMCHIN	9600	2400
5	Dish TV India Limited	DISHTV	20600	5150
6	Financial Technologies (India) Limited	FINANTECH	600	150
7	GMR Infrastructure Limited	GMRINFRA	5000	1250
8	GVK Power & Infrastructure Limited	GVKPIL	19000	4750
9	Hindustan Construction Co. Ltd	HCC	8400	2100
10	Housing Development and Infrastructure Limited	HDIL	3096	774
11	Jaiprakash Associates Limited	JPASSOCIAT	4500	1125
12	Jaiprakash Hydro-Power Limited	JPHYDRO	12500	3125
13	LIC Housing Finance Ltd	LICHSGFIN	1700	425
14	Mahindra & Mahindra Ltd.	M&M	1248	312
15	Maruti Suzuki India Limited	MARUTI	800	200
16	Nagarjuna Fertilizer & Chemicals Ltd.	NAGARFERT	21000	5250
17	National Aluminium Company Limited	NATIONALUM	2300	575
18	Neyveli Lignite Corporation Limited	NEYVELILIG	5900	1475
19	Steel Authority of India Ltd.	SAIL	5400	1350

Annexure-2

List of underlying in which market lot is being revised Downwards:

Sr No	Underlying	Symbol	Present Market Lot	Revised market Lot
1	Adlabs Films Ltd	ADLABSFILM	1800	900
2	Allahabad Bank	ALBK	4900	2450
3	Alstom Projects India Ltd	APIL	1200	600
4	Andhra Bank	ANDHRABANK	4600	2300
5	Ashok Leyland Ltd	ASHOKLEY	19100	9550
6	Asian Paints Limited	ASIANPAINT	400	200
7	Associated Cement Co. Ltd.	ACC	752	376
8	Axis Bank Ltd.	AXISBANK	900	450
9	Bank Of Baroda	BANKBARODA	1400	700
10	Bharat Earth Movers Ltd.	BEML	750	375
11	Bharat Electronics Ltd.	BEL	552	276
12	Bharat Forge Co Ltd	BHARATFORG	4000	2000
13	Bharat Heavy Electricals Ltd.	BHEL	300	150
14	Bharat Petroleum Corporation Ltd.	BPCL	1100	550
15	Bharti Airtel Ltd	BHARTIARTL	500	250
16	Bhushan Steel & Strips Lt	BHUSANSTL	1000	500
17	Biocon Limited.	BIOCON	3600	1800
18	Bombay Rayon Fashions Ltd	BRFL	2300	1150
19	Cairn India Limited	CAIRN	2500	1250
20	Canara Bank	CANBK	1600	800
21	Century Textiles Ltd	CENTURYTEX	1696	848
22	Chambal Fertilizers Ltd.	CHAMBLFERT	6900	3450
23	Chennai Petroleum Corporation Ltd.	CHENNPETRO	3600	1800
24	Container Corporation Of India Limited	CONCOR	500	250
25	Crompton Greaves Ltd.	CROMPGREAV	2000	1000
26	Cummins India Ltd	CUMMINSIND	1900	950
27	Deccan Chronicle Holdings Ltd.	DCHL	6800	3400
28	Dena Bank	DENABANK	10500	5250
29	Dlf Limited	DLF	1600	800
30	Dr. Reddy'S Laboratories Ltd.	DRREDDY	800	400
31	Educomp Solutions Ltd	EDUCOMP	150	75
32	Essar Oil Ltd.	ESSAROIL	2824	1412
33	Federal Bank Ltd.	FEDERALBNK	1702	851
34	Firstsource Solutions Limited	FSL	19000	9500
35	Grasim Industries Ltd.	GRASIM	352	176
36	Gtl Infrastructure Limited	GTLINFRA	9700	4850
37	Gtl Ltd.	GTL	1500	750
38	Gujarat State Petronet Limited	GSPL	12200	6100
39	Hcl Technologies Ltd.	HCLTECH	2600	1300
40	Hdfc Bank Ltd.	HDFCBANK	400	200
41	Hero Honda Motors Ltd.	HEROHONDA	400	200
42	Hindalco Industries Ltd.	HINDALCO	7036	3518
43	Hindustan Petroleum Corporation Ltd.	HINDPETRO	1300	650
44	Hindustan Zinc Limited	HINDZINC	1000	500
45	Hotel Leela Ventures Ltd	HOTELEELA	15000	7500
46	Icici Bank Ltd.	ICICIBANK	700	350
47	Icsa (India) Limited	ICSA	2400	1200
48	Idea Cellular Ltd.	IDEA	5400	2700
49	Ifci Ltd.	IFCI	15760	7880
50	India Cements Ltd.	INDIACEM	2900	1450
51	India Infoline Limited	INDIAINFO	5000	2500
52	Indiabulls Real Estate Limited	IBREALEST	2600	1300
53	Indian Hotels Co. Ltd.	INDHOTEL	7596	3798
54	Indian Overseas Bank	IOB	5900	2950
55	Indusind Bank Ltd.	INDUSINDBK	7700	3850
56	Industrial Development Bank Of India Ltd.	IDBI	4800	2400
57	Infrastructure Development Finance Company Ltd.	IDFC	5900	2950
58	Ispat Industries Limited	ISPATIND	24900	12450
59	Itc Ltd.	ITC	2250	1125
60	Ivrcl Infrastructure & Projects Ltd.	IVRCLINFRA	2000	1000
61	Jindal Steel & Power Ltd	JINDALSTEL	320	160
62	Kingfisher Airlines Limited	KFA	8500	4250
63	Kotak Mahindra Bank Ltd.	KOTAKBANK	1100	550
64	Larsen & Toubro Ltd.	LT	400	200
65	Mangalore Refinery And Petrochemicals Ltd.	MRPL	8900	4450
66	Mercator Lines Limited	MLL	9800	4900
67	Moser-Baer (I) Ltd	MOSERBAER	4950	2475
68	Mphasis Ltd.	MPHASIS	1600	800
69	Nagarjuna Constrn. Co. Ltd.	NAGARCONST	4000	2000
70	Noida Toll Bridge Company Ltd	NOIDATOLL	16400	8200
71	Oil & Natural Gas Corp. Ltd.	ONGC	450	225
72	Opto Circuits (India) Limited	OPTOCIRCUI	4080	2040
73	Oracle Financial Services Software Limited	OFSS	600	300
74	Orchid Chemicals Ltd.	ORCHIDCHEM	4200	2100
75	Oriental Bank Of Commerce	ORIENTBANK	2400	1200
76	Pantaloon Retail (I) Ltd	PANTALOONR	1700	850
77	Patel Engineering Ltd.	PATELENG	2000	1000
78	Patni Computer Syst Ltd	PATNI	2600	1300
79	Petronet Lng Limited	PETRONET	8800	4400
80	Polaris Software Lab Ltd.	POLARIS	5600	2800
81	Power Finance Corporation Ltd.	PFC	2400	1200
82	Power Grid Corporation Of India Ltd.	POWERGRID	3850	1925
83	Praj Industries Ltd.	PRAJIND	4400	2200
84	Ptc India Limited	PTC	4700	2350
85	Punjab National Bank	PNB	600	300
86	Ranbaxy Laboratories Ltd.	RANBAXY	1600	800
87	Rel. Nat. Resources Ltd.	RNRL	7152	3576
88	Reliance Capital Ltd	RELCAPITAL	552	276
89	Reliance Communications Ltd.	RCOM	1400	700
90	Reliance Industries Ltd.	RELIANCE	300	150
91	Reliance Infrastructure Limited	RELINFRA	552	276
92	Reliance Petroleum Ltd.	RPL	3350	1675
93	Rural Electrification Corporation Ltd.	RECLTD	3900	1950
94	Sesa Goa Ltd.	SESAGOA	3000	1500
95	Shipping Corporation Of India Ltd.	SCI	4800	2400
96	Shree Renuka Sugars Ltd.	RENUKA	5000	2500
97	Siemens Ltd	SIEMENS	1504	752
98	State Bank Of India	SBIN	264	132
99	Sterlite Industries (I) Ltd	STER	876	438
100	Sun Tv Network Ltd.	SUNTV	2000	1000
101	Suzlon Energy Ltd.	SUZLON	6000	3000
102	Tata Chemicals Ltd	TATACHEM	2700	1350
103	Tata Communications Ltd	TATACOMM	1050	525
104	Tata Motors Ltd.	TATAMOTORS	1700	850
105	Tata Power Co. Ltd.	TATAPOWER	400	200
106	Tata Steel Ltd.	TATASTEEL	1528	764
107	Tech Mahindra Limited	TECHM	1200	600
108	Television Eighteen India Ltd.	TV-18	3400	1700
109	The Great Eastern Shipping Co. Ltd.	GESHIP	2400	1200
110	Titan Industries Ltd.	TITAN	412	206
111	Triveni Engg. & Inds. Ltd.	TRIVENI	7700	3850
112	Tulip It Services Ltd	TULIP	1000	500
113	Uco Bank	UCOBANK	10000	5000
114	Ultratech Cement Ltd.	ULTRACEMCO	800	400
115	Union Bank Of India	UNIONBANK	2100	1050
116	Unitech Ltd	UNITECH	9000	4500
117	United Phosphorous Ltd	UNIPHOS	2800	1400
118	Voltas Ltd.	VOLTAS	5400	2700
119	Welspun Guj St. Ro. Ltd.	WELGUJ	3200	1600
120	Wipro Ltd.	WIPRO	1200	600
121	Yes Bank Limited	YESBANK	4400	2200
122	Zee Entertainment Enterprises Ltd.	ZEEL	2800	1400

Annexure-3

List of underlying in which market lot is being revised downwards and rounded off to nearest even integer:

Sr No	Underlying	Symbol	Present Market Lot	Revised market Lot
1	JSW Steel Limited	JSWSTEEL	1650	412
2	Lanco Infratech Limited	LITL	2550	638

Annexure-4

List of underlying in which market lot is being revised upwards:

Sr No	Underlying	Symbol	Present Market Lot	Revised market Lot
1	Sterling Biotech Limited	STERLINBIO	1250	2500

SOURCE:NSEINDIA

http://www.nseindia.com/content/circulars/faop12491.htm

New RIL gas find may put India among top 15 producers

New RIL gas find may put India among top 15 producers

MUMBAI: Reliance Industries’ (RIL) new gas finds in the Krishna Godavari (KG) basin, if validated by Indian regulators, may place India among the top 15 gas producers in the world.

RIL’s joint venture partner UK-based Hardy Oil and Gas on Wednesday had announced the discovery of 9.5 trillion cubic feet (tcf) of gas in the D-3 block of the KG basin and another find of 10.8 tcf in another block called D-9.

Neither of these finds has been certified yet by the Indian upstream regulator, but could potentially raise India’s proven reserves of natural gas to a significant extent. Blocks refer to areas, running into thousands of square kilometre, where companies have been allowed to search for oil and gas.

India had proven gas reserves of over 37 trillion cubic feet (tcf) at the end of 2007 according to British Petroleum’s 2008 Statistical review. If another 20 tcf of gas reserves is added, it will place India in the ranks of the top 15 gas producers in the world.

With 57 tcf, India will overtake countries like Azerbaijan, Netherlands and Libya. India’s gas reserves will, if these finds are endorsed by the regulator, then figure just below Canada.

Based upon the gas find, brokerage CLSA has upgraded RIL to “outperform” in the near future.

A technical evaluation report commissioned by Hardy Oil on the potential of the company’s D3 and D9 exploration licences stated that the “best estimate resources for the D3 Block was estimated at 9.5 trillion cubic feet of natural gas and the gross risked best estimate prospective resources in Block D9 is estimated at 10.8 tcf of natural gas and 143 million barrels of oil.”

The technical evaluation of both the blocks were carried out by international consultants Gaffney, Cline & Associates (GCA). The report is on the company’s website.

Commenting on the report, Sastry Karra, chief executive of Hardy in a statement said: “The report confirms the significant hydrocarbon potential of our exploration assets in the emerging world class petroleum system of the KG basin in India. The two discoveries on D3 in conjunction with the acquisition of risk mitigating technologies and geotechnical studies have resulted in the upward revision of the perceived geological chance of success on both of our KG basin blocks.” Hardy Oil has 10% in a special purpose vehicle (SPV) which is exploring these blocks. RIL has the remaining 90%.

When asked for comments a RIL spokesperson declined to do so as Indian upstream regulator the Directorate General of Hydrocarbons (DGH) has banned announcing any new find without its approval. V K Sibal, director general, DGH could not be reached for his comments.

Besides RIL’s latest discovery of 20 tcf, GSPC, a company owned by the Gujarat state government and ONGC have also claimed discoveries of 20 tcf of gas each in the same basin.

These were reported by the media in 2005 and 2006 but are also yet to be certified by the regulator. The DGH has asked both the firms to drill more wells before these claims are validated. Given this track record, it could be some time before Hardy Oil’s claims are confirmed, if indeed that happens.


The KG basin, off India’s eastern seaboard, was relatively unexplored territory till the last years of the 20th century. It is now proving to be potentially India’s equivalent of North Sea or Gulf of Mexico.

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India's GDP falls to 6.7% in FY09

Source:Economic Times.com,Rediff.com