Info Edge slips on Q3 loss

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Check out the companies from the F&O corner that are making headlines today.

⭐Info Edge slips on Q3 loss  
₹3,453 ▼360  (-9%)

Shares of Info Edge (Naukri) declined over 9% on Monday, while the OI of its February futures contract rose 9.3%, indicating short build-up. This comes after the company posted a net loss of ₹116 crore for the December quarter. Losses in the latest quarter came mainly as the company wrote off its ₹276 crore investment in property technology startup 4B Networks.

⭐FDA worries for Laurus Labs
₹333 ▼7  (-2%)

Shares of Laurus Labs fell nearly 2%, while the OI of its February futures contract rose 1.4%, indicating short build-up. This comes after the company said that it has received Form 483 with two observations from USFDA after an inspection of its manufacturing facility in Visakhapatnam. The company said that observations are procedural in nature and it will be addressed within stipulated timelines.

⭐City Union Bank falls on weak Q3
₹135 ▼25  (-15%)

City Union Bank shares fell more than 15% on Monday. The OI of its February futures contract rose 29%, indicating short build-up. This comes after the private sector lender's net profit for the December quarter fell 21% QoQ to ₹217 crore, due to higher slippages and a sequential increase in bad loans. The bank's net interest income (NII) also declined by 2% to ₹555 crore.

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