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IRCTC and Nalco among actions under F&O ban on NSE today

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Three stocks / securities were subject to the Futures and Options (F&O) ban by the National Stock Exchange (NSE) to be traded on Monday, September 13, 2021. These securities are banned in the F&O segment because they crossed 95% of the market wide position limit (MWPL), in accordance with the NSE.

Indiabulls Housing Finance, Indian Railway Catering and Tourism Corporation (IRCTC) and National Aluminum Company (Nalco) remain under the F&O ban as derivative contracts on the mentioned securities have exceeded 95% of the position limit on the market. market and were therefore currently placed in a blackout period.

It is hereby informed that all clients / members will only trade derivative contracts of said security to decrease their positions by offsetting their positions, ”the exchange said. “Any increase in open positions will result in appropriate criminal and disciplinary action,” NSE added.

The state-owned IRTCTC, which enjoys a strong monopoly, entered primary markets listing in October 2019 and has performed exceptionally since then. It holds 100% of the market share on the rail network. It is also the only entity authorized to manage catering services on board trains and large static units at stations.

Indiabulls Housing, one of India’s leading housing finance companies (HFCs), is part of the Indiabulls group and provides home loans in the affordable housing segment. Whereas Nalco is a CPSE of Navratna reporting to the Ministry of Mines. The mining company integrated and diversified its activities into the mining, metal and power sectors.

No new position is allowed for any of the F&O contracts in that particular stock when it is under the F&O blackout period. The MWPL (market-wide position limit) is set by the stock exchanges, which corresponds to the maximum number of contracts that can be opened at any time (Open Interest). Therefore, the M&O contracts of this share enter a blackout period if the open interest crosses 95% of the MWPL.

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