Coromandel forays into speciality chemicals

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

Options setup (Expiry: 29 March)

⭐Rural demand to revive: ITC CMD
₹380 ▲ 2 (+0.6%)

Shares of diversified conglomerate ITC closed higher after the company's CMD said that the commodity price inflation is cooling off and rural demand should start picking up with an improvement in farmers’ incomes. Meanwhile, the OI of its March Futures contract declined 5.3%, indicating short-covering.

⭐ABB shines on a new collaboration
₹3,370 ▲ 60 (+1.8%)

Shares of ABB India closed higher on Thursday, while the OI of its March Futures contract declined 1.3%, indicating short-covering. This comes after Parason, manufacturers and suppliers of pulp and paper machinery, collaborated with ABB India to automate and up-scale production of sustainable and compostable packaging solutions. Through this collaboration, ABB robots will help Parason to increase equipment effectiveness by 30%.

⭐Coromandel forays into speciality chemicals
₹891 ▲ 24 (+2.7%)

Shares of Coromandel International, a Murugappa Group company, surged 3% on Thursday, while the OI of its March Futures contract declined 6%, indicating short-covering. This comes after reports suggested that the group will invest ₹1,000 crore to expand the contract development and manufacturing organisation (CDMO) business.

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