Shares of RBL Bank rose nearly 5 percent to Rs 147.85 intraday on December 28 after the stock was included in F&O ban on the National Stock Exchange.
The NSE put four stocks under a ban for trading in the futures & options segment on December 28. These securities have crossed 95 percent of the market-wide position limit.
RBL Bank was under severe selling pressure, down 18.5 percent at Rs 140.95 on December 27, after the Reserve Bank of India on December 25 appointed Yogesh Dayal as an additional director on RBL's board and Vishwavir Ahuja, managing director and CEO, went on a medical leave with immediate effect.
The stock also witnessed highest short build-up among stocks, based on the open interest futures percentage. An increase in open interest, along with a fall in price, mostly indicates a build-up of short positions.
The derivative contracts in the above securities have crossed 95 percent of the market-wide position limit and hence, are currently under the ban list, said NSE.
The bank announced it had extended the partnership with Bajaj Finance for co-branded credit cards for a period of 5 years till December 2026.