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Check out the companies from the F&O corner that are making headlines today.
âTata Motors announces price hike
âš444 â˛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 âš 20,000 across all variants.
âAlkemâs Q3 profit falls
âš3,295 â˛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 drugmakerâs net profit (after minority interests) declined 13.5% YoY to âš454 crore. However, the profit was 9% higher than the street's estimate of âš416 crore. Meanwhile, the companyâs total revenue from operations rose by 16% to âš3,040 crore.
âCement to get cheaper?
Ramco Cements: âš736 â˛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%.
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