Reliance to launch chips brand Alan’s, Page Industries hits 52-week low

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Check out the open interest of the Nifty50, Bank Nifty and F&O stocks that are making the headlines  ⤵️

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⭐Reliance to launch chips brand Alan’s
₹2,508▲ 68 (+2.8%)

Reliance Industries’ FMCG arm will launch the global snacks brand Alan Bugles in India. The move pits Reliance against PepsiCo and ITC, which have a strong presence in the local market. Meanwhile, the open interest of its June futures contract dropped over 3%, suggesting short covering. 

⭐Page Industries hits 52-week low
₹37,510▼ 3,610 (-8.7%)

Shares of Page Industries fell 8% after its March quarter results missed street estimates. The company's net profit fell 58% YoY to ₹78 crore due to a sharp decline in revenues. The management said that profitability was also impacted by higher inventory levels acquired during an inflationary period and lower than optimal capacity utilisation. Against this backdrop, the open interest of its June futures contract jumped over 15%, suggesting a short build-up.

⭐BHEL slips on weak Q4
₹79▼ 2 (-3.4%)

BHEL fell more than 3% on Friday after its net profit plunged 34% year-on-year to ₹598 crore on a sharp rise in expenses.  Meanwhile, the open interest of its June futures contract surged more than 10%, suggesting a short build-up.

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