Announcements

HINDPETRO Limited conducted a meeting with its Board of Directors on 20th May, 2021. As per this meeting, it has declared, to the Exchange, a Final Dividend of Rs.22.75 per equity share. The record date for the purpose of payment of dividends is 8th July 2021.

What are dividends?
A dividend is a part of the company's profits given to its shareholders to reward them for their investment in the company. 

How does this corporate action impact Futures & Options Contracts?

Impact on Futures Contract: 

1. Base price of the Futures contracts on 8th July 2021 will be reference rate less aggregate amount of dividend i.e. Rs. 22.75 /-

2. The reference rate to be reckoned for this purpose shall be the daily mark to
market settlement price of the relevant futures contract

Impact on Options Contract: 

1. The full value of dividend i.e. Rs. 22.75 /- would be deducted from all the cum-dividend strike prices on the ex-dividend date

2. The details of the old and corresponding new options contracts shall be available for trading from 8th July 2021 and you will be notified on that day

For all positions taken before 8th July 2021, you may see a slight deviation in the carried forward (c/f) average price of HINDPETRO due to the corporate action mentioned above.

To know more, read the circular here.

As per defined limits on creating watchlists on Upstox, you can only have a maximum of 20 watchlists and 100 symbols/stocks per watchlist at a time.

If you exceed these limits, the extra watchlists and symbols/stocks per watchlist get deleted. And only the first 20 watchlists and first 100 symbols/stocks per watchlist will appear on your Upstox account.

Hence, we request you to create watchlists keeping the limits in mind.

We apologize for any inconvenience caused and thank you for your patience. 

We hope you’re enjoying trading on Upstox and are making the most of available margins and Cover Orders.

While we’ve loved offering these to you, we noticed that sometimes you do not exit, square off or convert intraday positions to delivery by the end of the trading day. So, in your best interests, we need to square them off on your behalf within a short time frame at live market prices prevailing at that time, which may or may not match your desired price.

While we’re happy to do this for you for a small fee of ₹50 (plus 18% GST) per order, we encourage you to take trades in your hands and square-off your own trades at the time and prices you deem fit. This would help us maintain a systematic order flow, preventing lakhs of orders from being triggered consecutively and would also help you save on square-off charges!

What does this mean?
When you have open intraday positions in any segment, you’re expected to exit them by the end of the trading day or convert them to delivery. If you do not, then we square them off on your behalf and deduct charges for the same.  To know more about square-off watch this video: https://www.youtube.com/watch?v=iUNDhq2Rp0M

Earlier our square-off, margin square-off and call and trade charges for Intraday Equity, F&O, Commodity and Currency segments were ₹20 (plus 18% GST) per order. However, from 7th July 2021, these charges would be increased to ₹50 (plus 18% GST) per order.

What can you do to avoid these charges?
To avoid these charges, you can square off the intraday positions yourself anytime before 3:00 PM for Equity and F&O; before 4:30 PM for Currency Derivatives and 10:00 PM for the Commodities segment. These timings are subject to change and we will notify you with the relevant changes.

The Welspun India Limited buy-back offer of ₹120 per share has gone live on 22nd June 2021 and you can apply for it before 5th July 2021.

Read on to know what this means and how you can apply for it quickly and easily -

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, watch our easy-to-understand video by clicking here.

What does this offer mean for Welspun India Limited shareholders?
Existing Welspun India Limited shareholders holding Welspun India Limited shares as on 26th May 2021 (which is the record date) can offer to sell their shares back to Welspun India Limited for ₹120 per share by applying to their buy-back offer.

How to apply for a buy-back?
Just follow these steps: 

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via EDIS to proceed.

When can you apply?
You can apply for this buy-back offer on or before 5th July 2021.

What to keep in mind while applying?

1. You can only apply for this buy-back if you hold shares of Welspun India Limited  in your Demat account as on 26th May 2021.
2. You shouldn’t sell these shares on or before 5th July 2021 if you’re interested to take part in the buy-back offer.
3. After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.
4. You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.
5. You will receive the buy-back amount for the shares from Welspun India Limited / Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
6. A total of 1,66,66,667 shares will be accepted by Welspun India Limited for the buyback and the remaining shares not accepted by Welspun India Limited will be returned back to shareholders in their Demat account. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buy-back. 

You can read the Exchange circular here.

That’s all about the Welspun India Limited buy-back, stay tuned for more buy-back updates from Upstox! 

As per the Exchange circular, the size of Nifty contracts is being revised from 75 to 50 per lot and here’s what you need to know.

What’s the revision:

1. July 2021 expiry contracts will be revised for market lots
2. All subsequent contracts (i.e. July 2021 monthly expiry and beyond) will have revised market lots
3. All contracts after the July monthly expiry will have a revised lot size of 50
4.The August weekly expiry contracts and all contracts after it will have a revised market lot size of 50
5. All existing NIFTY long term options contracts, with an expiry greater than 3 months, will have a lot size revised from 75 to 50. This is applicable after the expiry of June 2021 contracts (i.e. 25th June 2021)

What it means for you:
To understand this revision better, here’s an example.

Consider that you have position in Nifty beyond the July monthly expiry, In this case, before the 24th of June, you will have to do one of the following:

1. Convert the position into multiples of 50
2. Have position(s) in multiples of 50 - here your current 2 lots (75 x  2 = 150) will then become 3 lots (50 x 3 = 150)
3. Square off the existing position, if it is not in multiples of 50

Remember, if your remaining quantity is not in multiples of 50, you will not be able to square off your position until expiry. So, if you hold the position of 1 lot (quantity - 75) after 25th June 2021, you will be able to only square off 1 lot (quantity- 50) at that time. Thus your remaining quantity = 25, can only be expired and not squared off as per your wish at any point in time.

Kindly plan your trades accordingly. You can also get more details by reading the circular here: https://bit.ly/3uHXOiY

Looking for more information? Learn more about lot sizes and what they mean here.