The National Stock Exchange has announced that IRCTC Ltd. will be removed from the futures and options (F&O) segment starting February 25, 2026, marking a major change for one of the most actively tracked public-sector stocks in the derivatives market. This move is not a restriction but a permanent removal from derivative trading.
After the February 2026 expiry, no fresh F&O contracts will be introduced for IRCTC. Existing contracts will be gradually discontinued, and traders will no longer be able to take new long or short positions in futures or options. Once excluded from the F&O list, IRCTC shares will be traded only in the cash or equity market, meaning investors can buy or sell shares without leverage.
The exit will also affect institutional investors, who will lose the ability to hedge their holdings using futures or put options. Futures and options are derivative instruments whose value is linked to the underlying stock. Futures involve an agreement to trade at a fixed price on a future date, while options provide the right, but not the obligation, to buy or sell shares at a predetermined price.