F&O ban list 11 September 2026: Stocks in ban and MWPL watchlist, IREDA at 91.44%
- Six stocks are in the F&O ban list, including Bandhan Bank and Steel Authority of India.
- IREDA tops the possible entrants watchlist with 91.44% MWPL utilisation.
- Kalyan Jewellers saw the largest MWPL increase (+9.17 pp) among entrants.
- LIC Housing Finance recorded the highest utilisation rise (+6.03 pp) among banned stocks.
*this image is generated using AI for illustrative purposes only.
Six stocks are in the F&O ban list today, while ten names are monitored for possible entry, with IREDA leading the watchlist at 91.44% MWPL utilisation.
Stocks in F&O ban today
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Bandhan Bank | 174.00 | +1.34 | 96.21 | 96.00 | +0.21 |
| 2 | Steel Authority of India | 183.75 | -1.42 | 95.96 | 93.00 | +2.96 |
| 3 | Inox Wind | 76.02 | -1.77 | 91.98 | 88.00 | +3.98 |
| 4 | Manappuram Finance | 330.80 | +3.38 | 88.74 | 92.00 | -3.26 |
| 5 | LIC Housing Finance | 552.30 | -0.49 | 86.03 | 80.00 | +6.03 |
| 6 | Kaynes Technology India | 3,499.00 | -3.21 | 80.40 | 88.00 | -7.60 |
LIC Housing Finance recorded the largest increase in utilisation among banned stocks, rising by 6.03 pp to 86.03%. Conversely, Kaynes Technology India saw the steepest decline, with utilisation falling by 7.60 pp to 80.40%. Bandhan Bank remains above the 95% threshold at 96.21%, while Steel Authority of India is at 95.96%.
Recent news around ban-listed stocks
Bandhan Bank is scheduled to participate in the UBS India Summit 2026 on September 11, 2026, with an investor presentation available online. The bank also received a Crisil ESG rating of 69 (Strong) for FY26 based on public disclosures. Additionally, Bandhan Bank granted over 1 crore ESOPs to employees at ₹164.95 per option, vesting equally over four years.
Possible F&O ban entrants
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | IREDA | 113.32 | +1.19 | 91.44 | 85.00 | +6.44 |
| 2 | Crompton Greaves | 230.00 | -1.27 | 78.66 | 81.00 | -2.34 |
| 3 | Ambuja Cements | 395.60 | -0.35 | 77.47 | 79.00 | -1.53 |
| 4 | LIC of India | 405.60 | -0.47 | 75.77 | 80.00 | -4.23 |
| 5 | Canara Bank | 124.60 | +0.42 | 74.73 | 76.00 | -1.27 |
| 6 | NMDC | 84.60 | -1.40 | 72.82 | 71.00 | +1.82 |
| 7 | Patanjali Foods | 339.75 | -0.37 | 68.88 | 68.00 | +0.88 |
| 8 | NBCC | 83.94 | +0.41 | 65.12 | 68.00 | -2.88 |
| 9 | Kalyan Jewellers | 615.20 | +1.25 | 64.17 | 55.00 | +9.17 |
| 10 | Indian Energy Exchange | 116.63 | -1.12 | 60.74 | 63.00 | -2.26 |
IREDA has the highest T-1 MWPL utilisation among possible entrants at 91.44%, which is below the 95% ban threshold. Kalyan Jewellers recorded the largest increase in utilisation, rising by 9.17 pp to 64.17%. LIC of India saw the largest decrease, with utilisation falling by 4.23 pp to 75.77%.
Possible entrants and recent developments
IREDA leads the watchlist with 91.44% utilisation. No significant corporate announcements were reported for the stock in the last seven days.
Crompton Greaves (78.66%) is scheduled to host one-to-one meetings with Invesco MF and Bandhan MF on September 15, 2026. The company also confirmed a physical meeting with Amansa Capital on September 11, 2026.
LIC of India (75.77%) will present at the Jefferies India Forum and J P Morgan India Conference in September. Group and one-on-one sessions with institutional investors are planned for late September.
Canara Bank (74.73%) warned of potential branch disruptions due to union strikes scheduled for September 11 and later dates. The bank recently exercised a call option on ₹4,000 crore in Basel III AT1 bonds, subject to RBI approval.
NMDC (72.82%) fixed iron ore prices at ₹5,400 per ton for 65.5% grade lump ore effective September 9, 2026. The company also appointed M C Bhandari & Co as statutory auditor and filed its FY26 BRSR report showing GHG emissions of 198,372 tCO2e.
Patanjali Foods (68.88%) scheduled its 40th AGM for September 29, 2026, proposing a total interim dividend of ₹5 per share for FY26. The company submitted its FY26 BRSR report with independent assurance from Carbon Check.
Kalyan Jewellers (64.17%) will host an analyst meet at the Jefferies India Forum on September 17, 2026. Another meeting with analysts and investors was held on September 11.
Indian Energy Exchange (60.74%) declared a ₹2 final dividend per share for FY26 and confirmed an interim dividend of ₹1.50 per share. The 20th AGM was held via video conference on September 9, 2026.
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 the F&O ban on Bandhan Bank and SAIL impact their short-term liquidity and volatility given their high MWPL utilisation levels above 95%?
What is the likelihood of IREDA entering the F&O ban list in the near future, considering its current 91.44% utilisation and recent upward trend?
Could the scheduled union strikes at Canara Bank exacerbate its F&O open interest levels or influence investor sentiment ahead of its Basel III AT1 bond approval?
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