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Check out the companies from the F&O corner that are making headlines today.
⭐Tata Motors and Uber join forces
₹442 ▲2 (+0.5%)
Tata Motors shares ended with gains of over half a percent. The OI of its February futures contract fell 17%, indicating a short-covering. Meanwhile, the call option OI on the 445 and 450 contracts rose by 0.06% and 0.5%, respectively. This comes after the auto giant signed an agreement with Uber India to supply 25,000 XPRES-T EVs for its premium category service.
⭐USFDA spooks Cipla
₹963 ▼62 (-6.1%)
The shares of pharma major plummeted 6% on Monday, while the OI of its February futures contract fell 18%, indicating a short build-up. Meanwhile, the put option OI on the 960 and 950 contracts rose 444% and 348%, respectively. This comes after the company received Form 483 with eight observations from the USFDA for its Pithampur-based manufacturing facility.
⭐IEX to launch high-price power trading
₹138 ▲2 (+1.9%)
Shares of IEX rose 2% on Monday, while the OI of its February futures contract fell 20%, indicating a short-covering. The Central Electricity Regulatory Commission (CERC) has approved a new High Price Day Ahead Market (HP-DAM) segment on power exchanges. This will help state, central and private utilities meet power demand during shortages.
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