Bharat Forge tumbles on weak Q3

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Check out the companies from the F&O corner that are making headlines today.

⭐Cement demand likely to rise?
Shree Cement: ₹24,890 ▲255  (+1.0%)

Shares of Shree Cement closed higher on Wednesday along with other cement stocks. The OI of its February futures contract rose 2.7%, indicating a long buildup. This comes after a rating agency said that infrastructure-led investment in India will boost demand for cement and other construction materials. According to the rating agency, India's cement production will grow by around 6-8% YoY in fiscal 2023 and 2024.

⭐Bharat Forge tumbles on weak Q3
₹835 ▼37  (-4.3%)

Shares of Bharat Forge tumbled over 4% on Wednesday, while the OI of its February futures contract rose 2.6%, indicating short buildup. The auto components major’s net profit declined 81% YoY to ₹78 crore in the December quarter on higher expenses.

⭐Coforge gets fund boost
₹4,115 ▲35  (+0.8%)

Shares of Coforge ended in the green on Wednesday. The OI of its February futures contract fell 6.1%, indicating short covering. This comes after prominent funds, including Nomura India, Kuwait Investment Authority and Aditya Birla Sun Life Mutual Fund, acquired a small stake in the IT company in the range of ₹4,049 and ₹4,050 apiece, as per the NSE data.

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