This Tata Stock is the Newest Entrant to F&O Ban List on Aug 16: Updated List

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This Tata Stock is the Newest Entrant to F&O Ban List on Aug 16: Updated List
Credit: © Reuters.

By Malvika Gurung

Investing.com -- One stock has been added to the Futures and Options (F&O) ban list for trade by the National Stock Exchange on Aug 16, 2022, taking the total to three stocks.

While the gaming and hospitality stock Delta Corp (NS: DELT ) and the leading sugar manufacturer Balrampur Chini Mills (NS: BACH ) continue to remain under the F&O ban list on Tuesday, the leading chemical company Tata Chemicals (NS: TTCH ) is the newest addition to the list.

The Tata Group company posted a whopping 104.5% YoY jump in net profit at Rs 589 crore during the June quarter, while its sales surged 34.15% YoY to Rs 3995 crore in the period.

The three securities have exceeded 95% of the market-wide position limit (MWPL), thereby banned for trade under the futures and options segment in the day, and shall continue remaining on the list until their positions fall below 80%.

While on the Futures and Options ban list, no new/fresh F&O positions can be bought or sold for the stock(s), else that trader gets penalised. Traders with existing positions in that security can unwind their positions.

Moreover, the market-wide position limit is set by the stock exchanges.

The NSE directs all clients/members to trade in the derivative contracts of the aforementioned securities only to decrease their positions through offsetting positions.

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