March 6, 2023

Power Grid bags 2 transmission projects

Blog | F&O

Good morning!☕🗞️

Keep your finger on the pulse with today's options setup and F&O headline makers.

Options setup (Expiry: 9 March)

Nifty50 Max Call OI	18,000
Nifty50 Max Put OI	17,500
Max Pain	17,600
PCR	1.18

Bank Nifty Max Call OI	42,000
Bank Nifty Max Put OI	41,000
Max Pain	41,100
PCR	1.28

⭐SBI surges 5%
561 ▲27 (+5.1%)

Shares of SBI closed in the green on Friday, while the OI of its March futures contract fell 3.4%, indicating a short covering. Meanwhile, the call option OI on the 565 and 570 contracts rose 61% and 39%, respectively. The fresh investment in Adani Group companies had a rub-off effect on SBI and other public sector banks that have exposure to the group. The promoters of the Adani Group sold shares worth ₹15,446 crore in four of its listed companies to GQG Partners, a US-based equity firm.

⭐Power Grid bags 2 projects
222 ▲1 (+0.7%)

Shares of Power Grid closed higher on Friday, while the OI of its March futures contract fell 2.6%, indicating a short covering. Meanwhile, the call option OI of the 225 and 230 contracts rose 19% and 14%, respectively. This comes after the power transmission company won two projects to set up an inter-state transmission system in Chhattisgarh.

⭐Vedanta to raise funds
288 ▲13 (+5.0%)

The metal mining major jumped more than 5% on Friday, while the OI of its March futures contract advanced 0.6%, indicating a long build-up. As per reports, the company’s subsidiary Vedanta Resources is in talks with at least three banks including Barclays, JP Morgan, and Standard Chartered for loans up to $1 billion. The money raised will be used to meet its upcoming debt maturities in June 2023.

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