F&O ban list 28 September 2026: Stocks in ban and MWPL watchlist, Bandhan Bank at 113.26%
- Four stocks are currently in F&O ban, led by Kaynes Technology India at 101.09% MWPL utilisation.
- Bandhan Bank tops the possible entrants list with 113.26% MWPL utilisation, up 21.26 pp from T-2.
- LIC of India recorded the largest MWPL increase among entrants, rising 29.99 pp to 106.99%.
- All ten possible entrants showed positive T-1-to-T-2 MWPL changes, with NMDC posting the smallest rise at 5.22 pp.
*this image is generated using AI for illustrative purposes only.
On 28 September 2026, four stocks are in F&O ban and ten names appear on the MWPL watchlist, with Bandhan Bank leading at 113.26% utilisation.
Stocks in F&O ban today
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Kaynes Technology India | 3,650.00 | +4.00 | 101.09 | 87.00 | +14.09 |
| 2 | LIC Housing Finance | 566.00 | +0.31 | 94.15 | 90.00 | +4.15 |
| 3 | Steel Authority of India | 185.00 | +0.54 | 87.33 | 86.00 | +1.33 |
| 4 | Manappuram Finance | 334.00 | +2.79 | 82.54 | 81.00 | +1.54 |
Kaynes Technology India recorded the highest T-1 utilisation at 101.09%, reflecting a +14.09 pp increase from the previous session. LIC Housing Finance saw a +4.15 pp rise to 94.15%, while Steel Authority of India and Manappuram Finance posted marginal increases of +1.33 pp and +1.54 pp, respectively.
Recent news around ban-listed stocks
- Kaynes Technology India: The company reported significant customer inquiries and anticipates achieving 90% capacity utilisation soon.
- LIC Housing Finance: A postal ballot notice was issued for appointing Sandeep Kumar as MD and CEO, effective August 29, 2026, with remote e-voting opening September 23, 2026.
- Steel Authority of India: Shareholders approved all eight AGM resolutions, including a final dividend of ₹2.35 per share, with public institutions showing ~30% dissent on board changes.
Possible F&O ban entrants
| # | Stock | Last close (₹) | Price change (%) | T-1 MWPL (%) | T-2 MWPL (%) | Change (pp) |
|---|---|---|---|---|---|---|
| 1 | Bandhan Bank | 187.70 | +2.62 | 113.26 | 92.00 | +21.26 |
| 2 | Ambuja Cements | 383.80 | -0.08 | 109.90 | 81.00 | +28.90 |
| 3 | LIC of India | 409.05 | +0.75 | 106.99 | 77.00 | +29.99 |
| 4 | Inox Wind | 74.75 | +2.27 | 96.28 | 83.00 | +13.28 |
| 5 | Canara Bank | 124.99 | -0.72 | 94.10 | 75.00 | +19.10 |
| 6 | Crompton Greaves | 218.60 | -0.55 | 93.62 | 81.00 | +12.62 |
| 7 | Patanjali Foods | 403.95 | -0.22 | 89.95 | 78.00 | +11.95 |
| 8 | IREDA | 113.22 | +2.82 | 78.98 | 71.00 | +7.98 |
| 9 | NMDC | 79.90 | -1.14 | 76.22 | 71.00 | +5.22 |
| 10 | Vodafone Idea | 14.26 | +0.99 | 74.16 | 68.00 | +6.16 |
Bandhan Bank holds the highest T-1 MWPL utilisation at 113.26%. LIC of India registered the largest increase at +29.99 pp, while NMDC showed the smallest change among the listed names at +5.22 pp. All supplied entrants exhibit positive T-1-to-T-2 changes, indicating increased derivative open interest across the board.
Possible entrants and recent developments
- Bandhan Bank: Appointed Vinay Jain as interim CFO effective September 26, 2026. The bank also scheduled an analyst meeting for September 28 and held a meet at the J.P. Morgan India Conference on September 21.
- Ambuja Cements: Scheduled an analyst meeting for September 24 and announced a physical sell-side analyst meet in Ahmedabad on September 25, 2026.
- LIC of India: Managing Director Dinesh Pant retired voluntarily on September 24, 2026. The corporation confirmed no unpublished price sensitive information was shared during its September 22 investor meet.
- Inox Wind: Held its 17th AGM virtually on September 25, 2026, where shareholders approved higher borrowing limits and director re-appointments.
- Canara Bank: Paid ₹377 crore in annual interest on NCDs on September 27, 2026. The bank extended Bhavendra Kumar’s term as Executive Director to October 2027 and listed a medium term note offering circular on the Singapore exchange.
- Crompton Greaves: Will host a Non-Deal Roadshow in Singapore on September 28-29, 2026, and an analyst meeting with UTI Mutual Fund on September 30, 2026.
- Patanjali Foods: Received a prohibition order for a Sunrich oil batch due to TBHQ levels exceeding limits. The company reported weak rural demand and sluggish sunflower oil sales in recent results.
- IREDA: Appointed Shiv & Associates and MAPSS as joint statutory auditors for FY27, conveyed by the CAG via letters dated September 7 and 25, 2026.
- NMDC: Commissioned a ₹5,427 crore integrated iron ore project in Chhattisgarh on September 27, 2026, including a slurry pipeline and pellet plant.
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 significant surge in derivative open interest for Bandhan Bank and LIC of India reflect changing institutional sentiment ahead of their upcoming earnings or strategic announcements?
What are the potential liquidity impacts on Kaynes Technology India's stock price as it remains in the F&O ban while approaching 90% capacity utilisation?
Could the recent governance changes at LIC Housing Finance and LIC of India trigger further volatility in their respective derivatives markets once the ban restrictions are lifted?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
