Stock futures perk up SHCIL business

Our Markets Bureau

Mumbai, Dec 9: Introduction of individual stock futures on November 9 has helped improve the fortunes of the country’s largest Depository Participant (DP), the Stock Holding Corporation of India Ltd (SHCIL).

Not only has it settled the largest amount of transactions in the derivatives segment, but with short-selling being reintroduced, its business of securities lending has also jumped sharply.

During November alone, SHCIL has settled transactions worth Rs 2,943.82 crore.

The business in the derivatives segment in the current fiscal has spurted almost nine times to Rs 9,013 crore, compared to just Rs 1,000 crore in the last fiscal.

The response to the securities lending scheme (SLS) has also been very encouraging.

The scheme was suspended from operation during June-July this year after it was found to be misused by some of the market players, but was re-launched again.