Jain Irrigation Rallies Over 7% On Coming Out Of F&O Ban

Jain Irrigation Systems Limited (JISL), a multinational organisation based in Jalgaon on Tuesday during morning session of trade rallied 7.2% as the investors cheered the freeing from the ban on trades on futures and options contracts, as reported by a leading business channel.

The stock hit a fresh 52-week high of Rs 119.80 per share as soon as the markets opened on Tuesday. The stock has delivered nearly 80% returns in a period of one year and has outperformed the BSE Mid cap and Nifty Commodities over the same time span.

Generally, when the combined open interest in its derivative contracts crosses 95% of the market-wide position limit, a stock goes under ban in F&O.

The normal trading in the stock is resumed only after the aggregate open interest across exchanges comes down to 80% or below of the market-wide position limit. 

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About Suhani Varma

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