Defence stocks shine, DLF hits 52-week high

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Check out the open interest of the companies from the F&O corner that are making headlines  ⤵️

Options setup (Expiry: 18 May)

⭐Defence stocks shine
HAL: ₹3,025▲51 (+1.7%)
Bharat Dynamics: ₹1,018▲10 (+1.0%)

Defence stocks were in focus on Monday after the government announced a ban on importing 928 military items. In an attempt to boost domestic production, the list includes items used in fighter jets, trainer aircraft, warships and various types of ammunition. Against this backdrop, the open interest of HAL's May futures contract fell by more than 15%, indicating short covering.

⭐DLF hits 52-week high
₹468▲32 (+7.3%)

Shares of the realty major surged over 7% on Monday. This comes after the company's net profit jumped 41% YoY to ₹570 crore in March. Lower project costs and higher sales of luxury apartments drove the sharp growth in the profit. Against this backdrop, the open interest of its May futures contract jumped over 3%—indicating a long build-up.

⭐Coromandel slips on weak Q4
₹956▼13 (-1.4%)

Shares of the agrochemicals maker fell over 1% after its net profit fell 15% YoY to ₹246 crore in the March quarter. The fall in profit was due to higher expenses. Meanwhile, the open interest of the company's May futures contract rose 13% - indicating a short build-up.

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