28 Dec , 2021 By : Kanchan Joshi
RBL Bank is among the four stocks that have been been put under the ban for trade on Tuesday, December 28, 2021 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.
Shares of RBL Bank plunged as much as 23% in Monday's session after a slew of concerning events related to the private sector lender during the weekend. RBI named its nominee to the board which raised concerns about the lender and sudden management changes, including managing director and CEO Vishwavir Ahuja going on medical leave.
Meanwhile, other three stocks are Indiabulls Housing Finance, Escorts, and Vodafone Idea that continue to be under the exchange's stock ban list for today.
The derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and are therefore have been currently put in the ban period by the stock exchange, said NSE.
“It is hereby informed that all clients/members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions," the stock exchange said. "Any increase in open positions shall attract appropriate penal and disciplinary action," NSE added.
No fresh positions are allowed for any of the F&O contracts in that particular stock when it is under the F&O ban period. The MWPL (market-wide position limit) is set by the stock exchanges which is the maximum number of contracts that can be open at any time (Open Interest), therefore, the F&O contracts of that stock enter a ban period if the open interest crosses 95% of the MWPL.
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