Tata Motors announces price hike

Good morning!🔔

Check out the companies from the F&O corner that are making headlines today.

⭐Tata Motors announces price hike
₹444 ▲9  (+1.7%)

Tata Motors shares closed nearly 2% higher on Friday, while the OI of its February futures contract fell 2.3%, indicating short-covering. Meanwhile, the call option OI on the 450-460 contracts rose between 19% and 22%, respectively. This comes after reports suggested that the company increased prices of the Tiago EV by ₹ 20,000 across all variants.

⭐Alkem’s Q3 profit falls
₹3,295 ▲64  (+2.0%)

Alkem Laboratories shares ended in the green on Friday, while the OI of its February futures contract surged 90%, indicating long build-up. This comes after the company announced its December quarter results. The drugmaker’s net profit (after minority interests) declined 13.5% YoY to ₹454 crore. However, the profit was 9% higher than the street's estimate of ₹416 crore. Meanwhile, the company’s total revenue from operations rose by 16% to ₹3,040 crore.

⭐Cement to get cheaper?
Ramco Cements: ₹736 ▲12  (+1.7%)

Stocks from the cement sector rose on Friday with Ramco Cements gaining more than 1%. The OI of its February futures contract rose 2.6%, indicating long build-up. This comes after the CBIC chairman said that the fitment committee, comprising central and state finance ministers, will decide on the reduction of GST rate on cement. Currently, the GST (goods and services tax) on cement is 28%.

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.