Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 29 March)
| Nifty50 Max Call OI | 17,100 |
| Nifty50 Max Put OI | 17,000 |
| Max Pain | 17,100 |
| PCR | 0.80 |
| Bank Nifty Max Call OI | 40,000 |
| Bank Nifty Max Put OI | 39,500 |
| Max Pain | 39,600 |
| PCR | 0.72 |
⭐HDFC AMC plunges on debt fund tax blow
₹1,670 ▼ 73 (-4.2%)
Shares of the asset management companies slumped on Friday after the central government made changes to the taxation of debt mutual funds. Beginning April 1, investors will lose indexation benefits and gains from debt mutual funds will now be taxed according to an individual's income tax slab. Against this backdrop, shares of HDFC AMC slumped 4%, while the OI of its March Futures contract fell 11.8% indicating long unwinding.
⭐Crompton and Butterfly announce merger
₹293 ▲ 2.3 (+0.8%)
Crompton Greaves Consumer Electricals and kitchen appliance manufacturer Butterfly Gandhimathi Appliances announced a merger on Saturday. The companies said the merger will accelerate and facilitate the realisation of synergies of the combined business. Meanwhile, shares of the Crompton Greaves closed higher on Friday, while the OI of its March Futures contract fell 17.5% indicating short covering.
⭐MCX falls after STT hike
₹1,475 ▼ 29 (-1.9%)
Shares of Multi Commodity Exchange (MCX) closed lower on Friday after the government hiked the Securities Transaction Tax (STT) by 25% on the sale of futures and options. Meanwhile, the OI of its March Futures contract fell 11.2% indicating long unwinding.
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