Edelweiss, Religare say no prop exposure in NSEL

Leading domestic brokerages Edelweiss Financial Services and Religare Enterprises have said that have no exposure or open positions on National Spot Exchange. 

 

“Religare broking has no proprietary positions in NSEL and our total client exposure is less than Rs 5 crore,” said Religare's spokesperson.

 

" We would like to state that Edelweiss Financial Services Limited and/or its subsidiaries, do not have any position, whatsoever, on National Spot Exchange Limited. This communication is issued in the interest of the Investors so that they are protected from any  baseless rumours, if any, about Edelweiss Group’s exposure on NSEL,” said a statement by Edelweiss.

 

Shares of Edelweiss today ended 1.17 per cent higher at Rs 30.35, while Religare ended 0.4 per cent lower at Rs 308.65.

 

NSEL on Wednesday suspended trading of all contracts and said that it will be merge delivery and settlement of all pending contracts (other than e-Series). The exchange has decided to settle outstanding positions by way of delivery and payment after expiry of 15 days.