Good morning!
Here are the top stories from the F&O corner to start your day.
⭐Powerful surge
NTPC: ₹168 ▲2 (+1.5%)
Shares of India's largest energy conglomerate rose 1.5% on Monday and the OI of its February futures contract gained 10.9%. In addition, the OTM call option OI on the 172.5-180 contracts jumped between 26% and 274%. This comes after the power generation company reported its December quarter results in which its net profit rose 5% to ₹4,476 crore.
⭐Rough landing
Interglobe Aviation (Indigo): ₹2,074 ▼19 (-0.9%)
Shares of Interglobe Aviation (Indigo) slipped in trade on Monday. The OI of the February futures contract rose 3.3%, while the price of the contract fell nearly 1% - indicating a short build-up. This was after the Directorate General of Civil Aviation amended regulations requiring airlines to compensate passengers affected by delays, cancellations and involuntary downgrading of flight class.
⭐Tata Steel slips over 1%
Tata Steel: ₹118 ▼2 (-1.6%)
Amid heightened volatility, shares of Tata Steel declined more than 1% on Monday, while OI of the February futures contract shrank 0.2% - indicating long unwinding. On the options front, the OTM put option OI between 115 and 118 contracts jumped in the range of 2% and 326%. This comes after UK's Business Secretary Grant Shapps told British Steel and Tata Steel that they must guarantee a certain number of UK jobs until 2033 as part of an agreement to receive £300m each in government aid.
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