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 | 18,500 |
| Nifty50 Max Put OI | 18,200 |
| Max Pain | 18,200 |
| PCR | 0.9 |
| Bank Nifty Max Call OI | 43,500 |
| Bank Nifty Max Put OI | 43,000 |
| Max Pain | 43,300 |
| PCR | 0.8 |
⭐Auto index hits all-time high
TATA Motors: ₹500 ▲23 (+4.9%)
The Nifty Auto index surged to an all-time high, gaining 1.7% to 13,584. Out of fifteen, thirteen stocks of the auto index closed in the green. However, Tata Motors led the way with a gain of over 4%, while the OI of its May futures contract rose 2%—indicating a long build-up.
⭐Marico surges on strong Q4
Marico: ₹531 ▲37 (+7.6%)
Shares of the parachute maker surged over 7% after the company's net profit jumped 20% YoY to ₹302 crore in the Q4FY23. The growth in the profit was driven by moderation in key commodity prices and rise in other income. Meanwhile, the OI of its May futures contract jumped 17%—indicating a long build-up.
⭐ABFRL slumps after TCNS deal
ABFRL: ₹204 ▼7 (-3.3%)
Shares of Aditya Birla Fashion & Retail (ABFRL) plunged after the company acquired 51% stake in TCNS clothing for ₹1,650 crore. After the acquisition, TCNS will be merged with ABFRL and shareholders of TCNS will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS. Meanwhile, the OI of its May futures contract surged 20%—indicating a short build-up.
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