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L&T wins large order

Good morning!☕🗞️

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


Options setup (Expiry: 06 April)

Nifty50 Max Call OI 17,700
Nifty50 Max Put OI 17,500
Max Pain 17,500
PCR 1.4
Bank Nifty Max Call OI 41,000
Bank Nifty Max Put OI 41,000
Max Pain 41,000
PCR 1.2

L&T wins large order
L&T: ₹2,257 87 (+4.0%)

Larsen & Toubro shares gained 4% after the company reported that it has bagged a big order for its hydrocarbon business from a prestigious client in the Middle East.  As per reports, the combined worth of orders is more than ₹7,000 crores. Meanwhile, the OI of the Larsen & Toubro futures contract rose 2.8%, indicating a long buildup.

Federal Bank CASA ratio declines
Federal Bank: ₹128 ▼ 4 (-3.4%)

Shares of Federal Bank fell more than 3% on Wednesday after the bank posted a low CASA (current account savings account) ratio for Q4 FY23. While its loan growth trajectory is strong, the CASA ratio has been trending lower since Q4 FY22. Meanwhile, the OI of the Federal Bank  futures contract rose 10%, indicating a long buildup.

⭐Bharat Forge slips in trade
Bharat Forge: ₹758 ▼ 12 (-1.6%)

Shares of Bharat Forge declined on Wednesday after it reported a decline in Class-8 truck orders in North America for the month of March. The orders for Class-8 trucks was at 19,000 units, down 10% from the same quarter last year.  The OI of the Bharat Forge futures contract rose 7.2%, indicating a long buildup.


Disclaimer:

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Categories: F&O