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Check out the companies from the F&O corner that are making headlines before the opening bell.
⭐GAIL to sign gas deal with Russia
₹95 ▲1 (+1.2%)
GAIL (India) ended in the green on Tuesday and the OI of its February futures contract rose 0.4%, indicating a long build-up. The company is reportedly close to finalising a gas supply deal with Russia's Novatek. This could potentially be a 'payments in rupee' deal with Russia's second largest natural gas producer.
⭐Ambuja shines: Q3 profit rises
₹383 ▲4 (+1.1%)
Ambuja Cements rose over 1% and OI of its February futures contract advanced 11.5%, indicating long build-up. This comes after the cement manufacturer’s net profit rose 13% YoY to ₹488 crore in the December quarter. The company said that the cement sector saw higher production & capacity utilisation on account of pickup in demand.
⭐Tata Steel plummets on weak Q3
₹111 ▼6 (-5.3%)
Tata Steel plunged over 5% on Tuesday following its Q3 results. The OI of its February futures contract surged 11%, indicating a short build-up. The company reported a net loss of ₹2,502 crore due to higher raw material costs and tax expenses. This is a decline of over 73% from a profit of ₹9,598 crore in the same quarter last year.
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