Shares of Strides Pharma Science will stop trading in the derivative segment of National Stock Exchange with effect from November 1, 2019.
The stock fell 3.77 percent intraday on August 27. It was quoting at Rs 378.50, down Rs 11.20, or 2.87 percent on the BSE at 1240 hours IST.
"Members are requested to note that the contracts for new expiry months in the following security will not be issued on expiry of existing contract months. Accordingly, no contracts shall be available for trading in the above-mentioned security with effect from November 1, 2019," the exchange said in its circular.
The existing unexpired contracts of expiry months August 2019, September 2019 and October 2019 would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months, it added.
As per SEBI Circular dated April 11, 2018, after a period of one year from the date of the circular, only those stocks that meet the enhanced eligibility criteria will remain in the derivatives segment.
Meanwhile, Strides Pharma on August 27 said its step down subsidiary Strides Pharma Inc acquired a US health regulator approved manufacturing facility in Florida from Micelle BioPharma Inc, for $0.5 million.
The Micelle's facility has undergone several successful USFDA inspections and has no outstanding observations, it added.
Strides said with the addition of the Florida site, it now has eight formulation sites globally catering to the regulated and emerging markets.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
