F&O ban list 24 September 2026: Stocks in ban and MWPL watchlist, Bandhan Bank at 116.11%
- Four stocks are currently in F&O ban, led by Kaynes Technology India at 115.91% MWPL utilisation.
- Bandhan Bank tops the possible entrants list with 116.11% utilisation and a 40.11 pp increase.
- LIC Housing Finance showed the largest utilisation increase among banned stocks at 17.56 pp.
- Patanjali Foods faces regulatory scrutiny over oil batch standards amid weak rural demand reports.
*this image is generated using AI for illustrative purposes only.
On September 24, 2026, four stocks are in F&O ban, while Bandhan Bank tops the MWPL watchlist at 116.11% utilisation.
Stocks in F&O ban today
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Kaynes Technology India | 3,458.00 | +0.09 | 115.91 | 108.00 | +7.91 |
| 2 | LIC Housing Finance | 572.50 | +1.33 | 110.56 | 93.00 | +17.56 |
| 3 | Steel Authority of India | 185.44 | +6.57 | 92.53 | 91.00 | +1.53 |
| 4 | Manappuram Finance | 320.40 | +0.34 | 78.63 | 86.00 | -7.37 |
LIC Housing Finance recorded the largest increase in MWPL utilisation among banned stocks, rising 17.56 pp to 110.56%. Kaynes Technology India holds the highest utilisation in this group at 115.91%, while Manappuram Finance saw its utilisation decrease by 7.37 pp.
Recent news around ban-listed stocks
- Kaynes Technology India: The company reported significant customer inquiries and anticipates achieving 90% capacity utilisation soon. It is also targeting ₹250-300 crore in semiconductor revenue under its Semicon 2.0 initiative and plans a $1-billion OSAT expansion.
- LIC Housing Finance: The company sought shareholder approval for appointing Sandeep Kumar as MD and CEO, with remote e-voting opening on September 23, 2026.
- Steel Authority of India: SAIL reported a 139% YoY jump in net profit for Q1FY27 to ₹1,636 crore. Management planned non-deal roadshows in Mumbai on September 23 and 24, 2026.
Possible F&O ban entrants
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Bandhan Bank | 191.38 | +3.62 | 116.11 | 76.00 | +40.11 |
| 2 | Inox Wind | 75.02 | -3.70 | 106.52 | 79.00 | +27.52 |
| 3 | Patanjali Foods | 409.45 | +1.35 | 95.85 | 85.00 | +10.85 |
| 4 | IREDA | 111.00 | +0.68 | 94.91 | 80.00 | +14.91 |
| 5 | Crompton Greaves | 223.43 | +0.64 | 84.76 | 82.00 | +2.76 |
| 6 | LIC of India | 407.50 | +0.73 | 84.72 | 84.00 | +0.72 |
| 7 | Ambuja Cements | 392.75 | +1.51 | 83.59 | 82.00 | +1.59 |
| 8 | Canara Bank | 126.00 | +2.52 | 78.12 | 77.00 | +1.12 |
| 9 | NMDC | 82.00 | +2.24 | 75.13 | 72.00 | +3.13 |
| 10 | NBCC | 83.99 | +2.55 | 67.84 | 66.00 | +1.84 |
Bandhan Bank exhibits the highest T-1 MWPL utilisation at 116.11% and the largest increase of +40.11 pp. Inox Wind posted the notable price decline of -3.70% alongside a significant rise in utilisation. The highest reading is above 95%.
Possible entrants and recent developments
- Bandhan Bank: The bank scheduled an analyst and investor meeting for September 28. Prior to this, it held analyst meets at the J.P. Morgan India Conference and the Jefferies India Forum 2026.
- Patanjali Foods: A prohibition order was issued for a Sunrich Refined Sunflower Oil batch due to TBHQ levels exceeding permissible limits. The company also reported weak rural demand and sluggish sunflower oil sales, citing margin pressure.
- Crompton Greaves Consumer Electricals: The company will host a Non-Deal Roadshow in Singapore on September 28-29, 2026. It also scheduled an analyst meeting with UTI Mutual Fund for September 30, 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 Bandhan Bank's upcoming September 28 investor meeting influence the rapid 40-point surge in its derivatives open interest and subsequent F&O ban entry?
Will Kaynes Technology's planned $1-billion OSAT expansion sustain high derivative activity, or does the current F&O ban signal a cooling of speculative interest ahead of execution?
Could LIC Housing Finance's leadership transition to Sandeep Kumar as MD/CEO trigger further volatility in its stock price while it remains in the F&O ban?
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