X

Tech Mahindra's Q3 profit skids

Good morning!

Here are the top stories from the F&O corner to start your day.


⭐Tech Mahindra's Q3 profit skids
₹1,015 ▼₹21 (-2.0%)

Shares of Tech Mahindra fell 2% on Tuesday, while the OI of the February futures shrank 2.6%, indicating long unwinding in the contract. This comes after the company announced its December quarter results, where its net profit dropped 5.3% YoY to ₹1,297 crore. During the same period, the revenue rose 19.9% to ₹13,735 crore. The management said that the company is witnessing moderation in growth due to the tough macro economic environment.


⭐PNB jumps over 5%
₹53 ▲₹2 (+5.6%)

Punjab National Bank's February futures contract rose over 6% on Tuesday, while the OI of the contract fell 1.7%, indicating short-covering. This comes after the state-run lender's CEO reportedly said that it has a total exposure of ₹7,000 crore to Adani Group, but there are currently no concerns regarding these accounts.


⭐UPL’s Q3 profit rises

₹757 ▲₹12 (+1.6%)

UPL shares closed in the green on Tuesday after the company announced its Q3 results. Against this backdrop, the February OI of its futures contract rose 0.8%. In addition, the OTM call option contracts in the range of 770-800 jumped between 65% and 153%. This comes after, the company's December quarter revenue rose 21% YoY to ₹13,679 crore, while net profit rose 16% to ₹1,087 crore.


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.

Categories: F&O