F&O ban list 23 September 2026: Stocks in ban and MWPL watchlist, Kaynes Technology India at 128.40%

3 min read | Published on 23 Sept 2026, 07:31 AM |Updated on 23 Sept 2026, 07:31 AM

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Ritika DScanX News Team

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Key Highlights

Three stocks are currently in F&O ban led by Steel Authority of India at 94.90% utilisation
Kaynes Technology India tops the possible entrants list at 128.40% MWPL utilisation
Kaynes Technology India recorded the largest MWPL increase of 46.40 pp
Manappuram Finance saw the largest decrease of 5.61 pp to 80.39%

*this image is generated using AI for illustrative purposes only.

Three stocks are in F&O ban on September 23, 2026, while Kaynes Technology India leads the possible entrants list with 128.40% MWPL utilisation.

Stocks in F&O ban today

#	Stock	Last close (₹)	Price change (%)	T-1 MWPL (%)	T-2 MWPL (%)	Change (pp)
1	Steel Authority of India	174.01	-1.86	94.90	91.00	+3.90
2	Inox Wind	77.90	+0.52	85.23	80.00	+5.23
3	Bandhan Bank	184.70	+3.18	82.77	80.00	+2.77

Steel Authority of India records the highest utilisation at 94.90%, an increase of 3.90 pp from the previous session. Inox Wind shows the largest percentage-point change among banned stocks, rising 5.23 pp to 85.23%, while Bandhan Bank increased 2.77 pp to 82.77%.

Possible F&O ban entrants

#	Stock	Last close (₹)	Price change (%)	T-1 MWPL (%)	T-2 MWPL (%)	Change (pp)
1	Kaynes Technology India	3,455.00	-5.34	128.40	82.00	+46.40
2	LIC Housing Finance	565.00	-0.53	111.76	95.00	+16.76
3	Patanjali Foods	404.00	+1.97	103.08	81.00	+22.08
4	IREDA	110.25	-0.68	94.80	81.00	+13.80
5	LIC of India	404.55	+1.14	84.24	86.00	-1.76
6	Ambuja Cements	386.90	-0.99	81.50	82.00	-0.50
7	Crompton Greaves	222.00	-1.36	80.52	81.00	-0.48
8	Manappuram Finance	319.30	+1.33	80.39	86.00	-5.61
9	Canara Bank	122.90	-0.65	75.33	76.00	-0.67
10	NMDC	80.20	+0.50	75.03	72.00	+3.03

Kaynes Technology India holds the highest T-1 utilisation at 128.40%, reflecting a 46.40 pp increase. Manappuram Finance recorded the largest decrease, falling 5.61 pp to 80.39%. The highest reading is above 95%.

Possible entrants and recent developments

Kaynes Technology India: Reported significant customer inquiries and targets 90% capacity utilisation. The company plans a $1-billion OSAT expansion under its Semicon 2.0 initiative and hosts investor meets on September 23-24.
LIC Housing Finance: Issued a postal ballot notice for appointing Sandeep Kumar as MD and CEO, with voting opening September 23.
Patanjali Foods: Received a prohibition order for a Sunrich oil batch due to TBHQ levels exceeding limits. Management cited weak rural demand and sluggish sunflower oil sales.

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 upcoming investor meetings for Steel Authority of India and Kaynes Technology influence their open interest levels and potential exit from or entry into the F&O ban list?

What impact could the regulatory prohibition order on Patanjali Foods' Sunrich oil batch have on its stock volatility and derivative positioning in the coming sessions?

Given the sharp 46.40 pp surge in Kaynes Technology's MWPL utilisation, what specific factors are driving this extreme speculative interest ahead of its Semicon 2.0 expansion announcement?