NSE adds Indiabulls Housing Finance as the third stock to the F&O ban list for Wednesday.

NSE adds Indiabulls Housing Finance as the third stock to the F&O ban list for Wednesday.

After crossing 95 percent of the business position limit, the National Stock Exchange has put Indiabulls Housing Finance on its futures and options ban list for June 15.RBL Bank and Delta Corporation have previously been sanctioned. Following the departure of lengthy CEO and Managing Director Vishwavi Ahuja about six months ago, RBL Bank was at the top of the short-covering list on Tuesday, down just half a percent after a roughly 23 percent drop the previous session. R Subramaniakumar was named the bank’s chief executive officer for three years.

The NSE said derivative instruments in securities that exceed 95 percent of the price ownership limit are placed on the prohibition list.

“All customers shall trade in the said security’s derivative contracts exclusively to reduce their positions by offsetting positions.” “Any rise in open jobs will result in appropriate disciplinary and punitive action,” it stated.

2.2 percentage points on June 14 marked the end of a 20 percent correction that began on May 30 and continued until June 14.

On Tuesday, Indiabulls Housing Finance, which had dropped 15% in the previous four sessions, had a short build-up and was ranked fourth on the short build-up list.

The stock exchange has added Balrampur Chini and Delta Corp to the stock ban list for Tuesday, while Indiabulls Housing Finance remains on the F&O ban list. Every day, the NSE refreshes the stock list that is no longer available for trading.

According to NSE, the stock exchange has placed the derivative contracts in the stated securities in a ban period since they have crossed 95 percent of the market-wide ownership limit.

The stock exchange stated, “It is therefore advised that all customers shall trade in the derivatives markets of assets as mentioned above exclusively to lower their positions by offsetting positions.” “Any rise in open jobs will result in appropriate disciplinary and punitive action,” the NSE added.

When a stock is under the F&O ban, no new positions are allowed in any of the F&O agreements in that stock. The MWPL (market-wide potential limit) is defined by stock exchanges and is the maximum number of transactions that can be open at any given moment (Open Interest). As a result, if the genuine interest of that stock exceeds 95 percent of the MWPL, the F&O contracts of that firm enter a ban period.

On Thursday, May 19, 2022, the NSE F&O ban list included as many as four stocks. Rakesh Jhunjhunwala, a celebrity investor, holds two of the four equities. On Wednesday, three securities were already banned: Indiabulls Housing Financing (one of the Big Bull’s equities), GNFC, and Punjab National Bank.

On Thursday, the embargo on these instruments was extended, and Delta Corp was added. After the shares crossed 95 percent of the market-wide ownership limit on May 19, claims of the online gaming corporation were barred from trading in the futures and options segment.

Delta Corp, Jhunjhunwala’s gaming stock, has dropped roughly 8% in the previous two days after the Group of Ministers voted to impose a 28% GST on casinos, racetracks, and internet gaming during a meeting on Wednesday.

According to Delta Corp’s corporate report for the quarter ended March 31, 2022, a wealthy investor owns 2 crore shares in this gaming corporation, equating to a 7.5% interest.

Indiabulls Housing Finance was another stock in Big Bull’s portfolio to be placed under the NSE F&O ban list. In the most recent quarter, Jhunjhunwala purchased an additional 10 lakh shares of Indiabulls Housing Finance.

The ace investor elevated his stake in the company from 1.1 percent in December 2021 to 1.3 percent in March 2022. According to Indiabulls Housing Finance’s most recent corporate filing, the billionaire businessman now owns 60,00,000 equity shares, up from 50,00,000 in December 2021.

In addition to Indiabulls Mortgage Finance, the celebrity businessman increased his holdings in the pharma industry and a public sector bank in the quarter ending March 31, 2022. In the same period, the ace investor increased his holdings in Jubilant Pharmova and Canara Bank by 0.5 percent and 0.4 percent, respectively. 

According to the most recent corporate shareholdings filings, Rakesh Jhunjhunwala and Associates own 34 equities. According to the stock analysis website trendlyne.com, the worth of these equities was Rs. 28,302.1 core on May 19.

Earlier this week, the Group of Ministers (GoM) unanimously resolved to charge a 28% levy on online gaming, casinos, and horse racing at a meeting held on Wednesday. The GST rate is currently set at 18%.

The National Stock Exchange has placed a trading embargo on three equities within the futures trading (F&O) sector on Wednesday, February 23, 2022. (NSE). According to the NSE, these securities have been placed on hold in the F&O segment because they have exceeded 95% of the market-wide position limit (MWPL).

Escorts and Punjab National Bank (PNB) proceed to be under the F&O ban. Indiabulls Housing Funding has been added to the stock ban list by the stock market for late this afternoon. Every day, the NSE upgrades the list of bonds that are no longer available for trading.

According to NSE, the stock exchange has placed the financial derivatives in the stated securities in a ban period since they have crossed 95 percent of the business position limit.

The stock exchange stated, “It is therefore advised that all customers shall trade in the financial derivatives of assets as mentioned above exclusively to lower their positions by offsetting positions.” “Any rise in open jobs will result in appropriate disciplinary and punitive action,” the NSE added.

When a stock is under the F&O ban, no new positions are allowed in any of the F&O agreements in that stock. The MWPL (market-wide position limit) is defined by stock exchanges and is the maximum number of contracts that can be open at any given moment (Open Interest). As a result, if the genuine interest of that stock exceeds 95 percent of the MWPL, the F&O contracts of that company enter a ban period.

Edited by Prakriti Arora