On Thursday, three securities were put under the futures & options (F&O) ban by the National Stock Exchange (NSE). These securities are banned under the F&O segment as they have crossed 95 per cent of the market-wide position limit (MWPL).

The three stocks in a ban for trade on F&O today are Indiabulls Housing Finance, Indian Railway Catering and Tourism Corporation (IRCTC) and National Aluminium Company (Nalco). The derivative contracts in the mentioned security have crossed 95 per cent of the market-wide position limit and are currently in the ban period.

“It is at this moment informed that all clients/members should trade in the derivative contracts of said security only to decrease their positions through offsetting positions,” the exchange said. “Any increase in open positions shall attract appropriate penal and disciplinary action,” NSE added.

IRCTC shares have skyrocketed in the recent bull run, with the stock surging over 120 per cent this year (year-to-date). Since its stock market debut, IRCTC has given stellar returns and has rallied ten times since its IPO issue price of Rs 320 per share. The state-owned company, which enjoys a strong monopoly, entered the primary markets by listing in October 2019. It has a 100 per cent market share in the rail network. It’s also the only entity authorised to manage catering services on trains and central static units at railway stations.