May 19, 2023

Bharti Airtel bucks trend, GAIL plummets on weak Q4

Blog | F&O

Good morning!☕🗞️

Check out the open interest of the companies from the F&O corner that are making headlines ⤵️

Options setup (Expiry: 25 May)

Nifty50 Max Call OI	18,200
Nifty50 Max Put OI	18,200
Max Pain	18,200
PCR	0.75

Bank Nifty Max Call OI	44,000
Bank Nifty Max Put OI	43,000
Max Pain	43,700
PCR	0.94

⭐Bharti Airtel bucks the trend
₹800 ▲7 (+0.9%)

Shares of the second largest telecom operator were up almost 1%, while the open interest of its May futures contract rose 1.4%, indicating a minor long build-up. This comes after the company's March quarter results beat Street estimates. The company's net profit jumped 49% YoY to ₹3,006 crore, driven by continued 4G subscriber additions and improvement in ARPU.

⭐GAIL plummets on weak Q4
₹106 ▼4 (-3.6%)

The largest gas distributor's net profit for the March quarter dropped 77% YoY to ₹603 crore, due to weakness in its petrochemical business. Against this backdrop, the open interest of its May futures contract rose 11%, indicating a minor short build-up.

⭐AU Bank hits all-time high
₹750 ▲19 (+2.6%)

Shares of the AU Small Finance Bank jumped more than 2% on Thursday, while the open interest of its May futures contract rose 0.5%, indicating a minor long build-up. This comes after the bank's net profit for the March quarter jumped 23% year-on-year to ₹425 crore, driven by higher net interest income.

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