Good morning!☕🗞️
Check out the open interest of the Nifty50, Bank Nifty and F&O stocks that are making the headlines ⤵️
Options setup (Expiry: 1 June)
| Nifty50 Max Call OI | 18,800 |
| Nifty50 Max Put OI | 18,300 |
| Max Pain | 18,550 |
| PCR | 1.2 |
| Bank Nifty Max Call OI | 44,500 |
| Bank Nifty Max Put OI | 44,000 |
| Max Pain | 44,300 |
| PCR | 1.0 |
⭐ICICI Lombard shines
₹1,190 ▲ 90 (+8.2%)
Shares of ICICI Lombard jumped over 14% intraday after parent ICICI Bank agreed to increase its stake in the company by 4% in several tranches. The bank currently holds a 48% stake in ICICI Lombard. Meanwhile, the open interest of its June futures contract fell over 10%, suggesting a short-covering.
⭐IRCTC surges on strong Q4
₹646 ▲ 22 (+3.5%)
Shares of IRCTC surged on Monday after the company reported a 30% YoY rise in net profit to ₹279 crore in the March quarter. The profitability was driven by strong revenue growth in the catering and tourism business. Against this backdrop, open interest of the company's June futures contract jumped over 6%, suggesting a long build-up.
⭐Balkrishna Industries slips after weak Q4
₹2,284▼ 184 (-7.4%)
The tyre maker's net profit fell 32% year-on-year to ₹256 crore in the March quarter due to lower volumes, a slowdown in the European market and inventory issues. Meanwhile, the open interest of its June futures contract surged over 14%, suggesting a short build-up.
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