IOC climbs to 52-week high, Astral shines on strong Q4

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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)

⭐IOC climbs to 52-week high
₹87 ▲2 (+3.3%)

The state-owned oil refiner's net profit jumped 52% YoY to ₹10,841 crore on the back of fuel marketing and refining margins recovery. The company's shares closed at a 52-week high, and the open interest of its May futures contract surged more than 8%, indicating a long build-up.

⭐Astral shines on strong Q4
₹1,692 ▲96 (+6.0%)

Shares of the PVC pipes and adhesive paints maker surged over 6% after the company's Q4FY23 net profit rose 38% YoY to ₹199 crore. Easing raw material prices, picking up construction activity and eliminating inventory losses boosted profitability. Meanwhile, the open interest of its May futures contract surged 13%, indicating a long build-up.

⭐PVR Inox slips to 52-week low
₹1,433 ▼31 (-2.1%)

Shares of the multiplex chain operator hit a 52-week low after it announced results for the March quarter. The company reported a net loss of ₹334 crore in Q4FY23. One-off merger-related expenses and deferred tax write-offs impacted profitability on the transition to the new tax regime. Against this backdrop, the open interest of its May futures contract jumped more than 6%, indicating a short build-up.

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