Good morning!š
Check out the companies from the F&O corner that are making headlines today.
āICICI Bank signs MoU with BNP Paribas
ā¹865 ā²14 (+1.6%)
Shares of ICICI Bank rose more than 1% on Tuesday. The OI of its February futures contract fell 3.1%, indicating short covering. This comes after reports suggested that the private lender has signed an MoU with BNP Paribas, to cater to the banking and financial needs of the European corporates operating in India and Indian companies in the European Union.
āJSW Steel surges on strong crude steel output
ā¹724 ā²6 (+0.9%)
JSW Steel settled in the green on Tuesday along with other metal stocks, while the OI of its February futures contract fell 0.9%, indicating short covering. This comes after the company reported 15% YoY rise in its crude steel production to 18.91 lakh tonnes in January.
āM&M rides high on SUVs
ā¹1,365 ā²12 (+0.9%)
Shares of Mahindra & Mahindra closed higher on Tuesday. The OI of its February futures contract rose 0.8%, indicating long build-up. Meanwhile, the call option OI on the 1,380 to 1,420 contracts fell between 8% and 28%, respectively. This comes after reports suggested that the waiting list for the carmaker's Scorpio-N Z4 petrol and diesel model was extended to almost 16 months.
Disclaimer:
Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client and such material should not be redistributed. We do not recommend any particular stock, securities and strategies for trading. The securities quoted are exemplary and are not recommendatory. The stock names mentioned in this article are purely for showing how to do analysis. Take your own decision before investing.