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Here are the top stories from the F&O corner to start your day.
⭐Airtel completes merger of Nettle and Telesonic
Bharti Airtel: ₹776 ▲7 (+0.9%)
Shares of Bharti Airtel closed higher on Thursday, while the OI of February futures contract fell 1.5%, indicating short covering. The OTM call option contracts in the range of 780-800 jumped between 0.7% and 9%. This comes after reports suggested that the company has completed the merger of wholly-owned subsidiaries—Nettle Infrastructure and Telesonic Networks.
⭐IndusInd Bank rises on clarification
IndusInd Bank: ₹1,080 ▲38 (+3.6%)
IndusInd Bank surged more than 3% on Thursday and OI of its February futures contract rose 1.5%, indicating long build-up. This comes after the company, without naming Adani Group said, that the total outstanding loans towards a "conglomerate group" are 0.49 percent of the overall loan book.
⭐ Titan’s Q3 profit falls
Titan: ₹2,325 ▼20 (-0.8%)
Shares of Titan settled lower on Thursday after the company announced its Q3 results. The February OI of its futures contract rose 9%, indicating short build-up. This comes after the owner and operator of Tanishq brand posted a net profit of ₹951 crore, down 4% YoY.
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