Polycab faces F&O exit as insolvency order stays
pre-market2 sources ↓machine-written, see hownot a recommendation
- POLYCAB close
- ₹8,405
- On the day
- +1.82%
- Futures OI, long build-up
- +1.2%
- Put-call ratio
- 1.03
- Max pain
- ₹8,300
Polycab India will exit the National Stock Exchange’s equity derivatives segment from 30 Dec 2026, while the National Company Law Appellate Tribunal kept an insolvency admission order in abeyance. The NSE decision means no contracts for new expiry months will be introduced after the current contract months end. Existing October, November and December 2026 contracts will remain available until their respective expiry dates, with new strikes allowed in those months.
The insolvency development provides a separate legal reprieve: the NCLAT stayed the 7 Oct 2026 order passed by the NCLT Ahmedabad Bench, which had admitted a corporate insolvency resolution process. The stay keeps the insolvency order from taking immediate effect while the appellate proceedings continue. Together, the two developments create different near-term signals for traders: derivatives access is being phased out on a fixed exchange timetable, while the insolvency-related uncertainty remains subject to further legal action ⚖️.
F&O exit deadline is 30 Dec 2026. Traders will need to monitor the expiry and liquidity of the remaining contracts, particularly the final December series. The loss of fresh expiry months can reduce the available horizon for hedging and directional strategies after the existing series expire. It does not, however, remove the October, November and December contracts before their scheduled expiries.
OI Charts data for 12 Oct 2026 showed the shares at ₹8,405, up 1.8% on the day, with volume of 456,246 and a 1.2% rise in futures open interest, indicating a long build-up. The futures premium was 0.32%, while the put-call ratio stood at 1.03. For the 27 Oct 2026 expiry, max pain was ₹8,300; the largest call open interest was at ₹8,500 and the largest put open interest at ₹7,800. These levels frame the immediate derivatives positioning, although the scheduled contract withdrawal remains the larger structural change for the F&O market.
The stock was up 4.0% over five sessions and 0.6% over 20 sessions, but remained below its 52-week high of ₹10,126 recorded on 22 Jun 2026. Traders will watch subsequent NCLAT proceedings, exchange circulars and liquidity in the remaining contract months. The company’s next legal disclosure will help determine whether the insolvency stay develops into a longer resolution or a renewed proceeding.
Source: The Economic Times, 12 Oct 2026
Not investment advice. For informational purposes only.