F&O ban list 04 September 2026: Stocks in ban and MWPL watchlist, Inox Wind at 99.45%
- Two stocks, SAIL and LIC Housing Finance, are in the F&O ban today.
- Inox Wind leads the MWPL watchlist with utilisation at 99.45%, up 6.45 pp.
- Bandhan Bank records the largest utilisation drop of 5.53 pp to 80.47%.
- Six possible entrants show increased MWPL utilisation, while four show decreases.
*this image is generated using AI for illustrative purposes only.
Two stocks are in the F&O ban today, with Steel Authority of India recording the highest open interest utilisation at 100.02%.
Stocks in F&O ban today
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Steel Authority of India | 197.00 | +0.25 | 100.02 | 95.00 | +5.02 |
| 2 | LIC Housing Finance | 554.00 | +2.36 | 89.33 | 88.00 | +1.33 |
Steel Authority of India shows the highest utilisation among banned stocks, with T-1 MWPL at 100.02%, up 5.02 pp from T-2. LIC Housing Finance records a lower utilisation of 89.33%, an increase of 1.33 pp. Both stocks saw price gains, with LIC Housing Finance rising 2.36% compared to SAIL’s 0.25%.
Recent news around ban-listed stocks
Steel Authority of India
- LIC sold a 2.001% stake in SAIL via the open market, reducing its holding from 6.625% to 4.625%. The transactions occurred between April 28 and September 1, 2026.
- SAIL cut specific water use by 26% in FY26 to 2.85 m³/tcs and raised green capex to ₹313.98 crore from ₹108 crore in FY25.
- The company recommended a final dividend of ₹2.35 per share for FY26. The 54th AGM is scheduled for September 24, 2026.
LIC Housing Finance
- Shareholders approved a ₹55,000 crore NCD issuance with 99.94% support. A final dividend of ₹10 per share was declared for FY26.
- Sandeep Kumar was appointed MD and CEO effective August 29, 2026, succeeding T Adhikari who ceased to be director due to superannuation.
Possible F&O ban entrants
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Inox Wind | 74.00 | +4.83 | 99.45 | 93.00 | +6.45 |
| 2 | IREDA | 113.00 | +0.40 | 90.52 | 88.00 | +2.52 |
| 3 | Manappuram Finance | 341.00 | +0.03 | 89.22 | 89.00 | +0.22 |
| 4 | Kaynes Technology India | 3,485.00 | -2.74 | 88.29 | 88.00 | +0.29 |
| 5 | Bandhan Bank | 164.23 | +1.68 | 80.47 | 86.00 | -5.53 |
| 6 | LIC of India | 416.90 | +2.12 | 80.14 | 80.00 | +0.14 |
| 7 | Ambuja Cements | 405.00 | +0.57 | 78.01 | 78.00 | +0.01 |
| 8 | Canara Bank | 125.80 | -0.40 | 73.27 | 75.00 | -1.73 |
| 9 | Crompton Greaves | 226.51 | -0.53 | 73.18 | 78.00 | -4.82 |
| 10 | NMDC | 84.19 | -1.82 | 70.90 | 71.00 | -0.10 |
Inox Wind tops the watchlist with the highest T-1 MWPL utilisation at 99.45%, an increase of 6.45 pp. It also recorded the largest price gain at 4.83%. Bandhan Bank saw the largest decrease in utilisation, dropping 5.53 pp to 80.47%. Six stocks showed increased utilisation, while four recorded decreases.
Possible entrants and recent developments
Inox Wind
- Inox Wind secured a ₹755 crore order from Indian Oil for a 100 MW wind project, raising its disclosed order book to ₹2,355 crore.
- The company filed its FY26 BRSR report, disclosing zero lost-time injuries and a workforce of 2,135 individuals.
- The 17th AGM is scheduled for September 25, 2026, seeking approval for a borrowing limit increase from ₹5,000 crore to ₹8,000 crore.
IREDA
- IREDA filed its FY26 sustainability report with net worth at ₹1,37,813 crore. Scope 1 emissions dropped to 14.86 tonnes CO2e.
- The 39th AGM is scheduled for September 29, 2026, to approve the FY26 final dividend. The record date is September 11, 2026.
Bandhan Bank
- Goldman Sachs maintains a Neutral rating on Bandhan Bank with a target price of ₹180. FY27 loan growth guidance stands at 15-17%.
- The bank received an ESG score of 58 from ESG Risk Assessments, falling under the 'Adequate' category.
LIC of India
- LIC launched two new domestic insurance products: Bima Platinum (savings plan) and Jeevan Raksha (pure risk plan). Sales commence on September 7, 2026.
- Executive Director Sesha Giridhar Kuppili retired on August 31, 2026.
Ambuja Cements
- Ambuja Cements schedules an EGM on September 29, 2026, to approve the ACC amalgamation. Remote e-voting opens on September 24.
- An investor plant visit was hosted at the Sanghi facility on September 3, 2026.
Canara Bank
- The board approved raising up to USD 2,000 Mn via foreign currency bonds under its existing Medium Term Note Programme.
- Canara Bank approved the sale of a 70% stake in Canbank Factors Limited for ₹80.50 crore.
Crompton Greaves
- Crompton Greaves hosted analyst meetings on September 3 and scheduled another for September 9 with East Bridge Capital.
- A revised investor presentation was submitted on August 31, 2026, addressing clerical errors.
NMDC
- NMDC incorporated a new subsidiary, NMDC Global IFSC Limited, in GIFT City.
- Iron ore production rose 13.7% YoY to 4.07 million tonne in August.
Understanding MWPL and the table
- MWPL is the maximum aggregate open interest permitted in a stock's derivatives.
- A stock enters the F&O ban when aggregate open interest exceeds 95% of MWPL; while it is in ban, participants may only reduce existing positions.
- Normal trading resumes when aggregate open interest falls to 80% of MWPL or below.
- T-1 is the latest completed trading session, T-2 is the preceding completed session, and Change (pp) is T-1 MWPL utilisation minus T-2 MWPL utilisation in percentage points.
How might LIC's recent stake reduction in SAIL influence institutional sentiment and open interest levels as the stock remains under F&O ban?
Will Inox Wind's upcoming AGM approval for a ₹3,000 crore increase in borrowing limits accelerate its entry into the F&O ban list given its current 99.45% MWPL utilisation?
Could Ambuja Cements' pending ACC amalgamation approval at the September 29 EGM trigger a surge in derivatives activity, pushing it closer to the ban threshold?
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