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 | 17,000 |
| Max Pain | 17,350 |
| PCR | 1.2 |
| Bank Nifty Max Call OI | 40,500 |
| Bank Nifty Max Put OI | 40,500 |
| Max Pain | 40,500 |
| PCR | 1.2 |
⭐Reliance to demerge financial services arm
Reliance Industries: ₹2,331 ▲ 96 (+4.3%)
Shares of Reliance Industries jumped over 4% on Friday. This comes after NCLT approved the demerger of RIL and new NBFC – Reliance Strategic Investments. This new firm will be rebranded as Jio Financial Services – in 1:1 ratio. Meanwhile, the OI of the Reliance Industries futures contract fell 4%, indicating a short covering. The 27th April call option OI of 2,340 and 2,360 strikes rose 39% and 16%, respectively.
⭐NTPC records highest-ever power generation
NTPC: ₹175 ▲ 1 (+0.6%)
State-owned power generator said it has registered the highest-ever power generation of 400 BU in FY23, a growth of 10.8% YoY. Meanwhile, the company’s coal production through its captive mines rose by 65% YoY to 23.2 Million Metric Tonnes (MMT). The OI of the NTPC futures contract fell 1.4%, indicating a short covering.
⭐Nestle ponders a new acquisition
Nestle: ₹19,704 ▲ 651 (+3.4%)
Nestle India shares surged over 3% on Friday following a report that parent Nestle SA is among the final bidders for Capital Foods, which owns the famous Ching’s Secret brand. The OI of the Nestle India futures contract rose 11.9%, indicating a long buildup.
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