Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 11 May)
| Nifty50 Max Call OI | 18,300 |
| Nifty50 Max Put OI | 18,200 |
| Max Pain | 18,250 |
| PCR | 1.0 |
| Bank Nifty Max Call OI | 43,500 |
| Bank Nifty Max Put OI | 43,000 |
| Max Pain | 43,200 |
| PCR | 0.7 |
⭐Mahanagar Gas hits 52-week high
MGL: ₹1,073 ▲73 (+7.3%)
Shares of Mahanagar Gas jumped over 7% after the company's net profit surged 104% YoY to ₹268 crore in the Q4FY23. This was backed by a robust growth in revenue of 67% to ₹1,771 crore. Against this backdrop, the OI of its May futures contract jumped 39%, indicating long build-up.
⭐Vedanta shares shine
VEDL: ₹283▲4 (+1.6%)
Shares of the metal mining major rose over 1% and the OI of its May futures contract—fell 9.9% suggesting short covering. This comes after the company received the pledged shares worth ₹70,444 crore after repaying the loan of $800 million to the Standard Chartered Bank.
⭐UPL declines after weak Q4
UPL: ₹693▼21 (-3.0%)
Shares of the Agrochemicals major slipped over 3% on Tuesday after the company reported disappointing March quarter results. Its net profit declined 43% YoY to ₹792 crore, due to decline in product prices, ramp-up supply from China and lower sales from North America. Meanwhile, the OI of its May futures contract rose 17%, indicating a short build-up.
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