NCLT clears merger of HDFC twins

Good morning!☕🗞️

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

Options setup (Expiry: 23 March)

⭐NCLT clears merger of HDFC twins
HDFC Bank: ₹1,578 ▲26 (+1.7%)

HDFC Bank shares jumped more than 1% after the National Company Law Tribunal (NCLT) approved its merger with housing finance company HDFC Ltd. Following the announcement, the open interest (OI) of its March Futures contract fell 0.4%, indicating minor short-covering. Meanwhile, the call option OI on the 1,580 and 1,600 contracts rose 15% and 7%, respectively.

⭐Bharti Airtel intensifies 5G fight
Bharti Airtel: ₹756 ▲10 (+1.4%)

Bharti Airtel shares rose over 1% on Friday, while the OI of its March Futures contract fell 1.3%, indicating short-covering. Meanwhile, the call option OI on the 760 and 780 contracts fell 3% and 8%, respectively.  This comes after the telecom company launched a new unlimited 5G data service for its prepaid and postpaid users.

⭐GAIL signs MoU for Ethane sourcing
GAIL: ₹110 ▲0.6 (+0.5%)

Shares of GAIL (India) closed higher on Friday, while the OI of its March Futures contract jumped 1.6%, indicating long build-up. This comes after the Maharatna PSU signed an MoU with Shell Energy to explore ethane sourcing and other energy value chain opportunities.

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.