Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 20 April)
| Nifty50 Max Call OI | 17,700 |
| Nifty50 Max Put OI | 17,500 |
| Max Pain | 17,650 |
| PCR | 0.8 |
| Bank Nifty Max Call OI | 42,500 |
| Bank Nifty Max Put OI | 42,000 |
| Max Pain | 42,100 |
| PCR | 0.9 |
⭐Titan to reduce franchise incentives
₹2,566 ▼11 (-0.4%)
Shares of Titan settled lower on Wednesday after reports suggested that the company has reduced franchise incentives for Tanishq stores from Q1 of FY24. Meanwhile, the OI of the Titan April futures contract fell 0.1%, indicating a long unwinding.
⭐ICICI Lombard slips on weak Q4
₹1,077 ▼ 53 (-4.7%)
Shares of ICICI Lombard slumped nearly 5% on Wednesday after the company's net earned premium for the March quarter missed street estimates. The company made a net premium of ₹3,726 crore, up 12% YoY. This was lower than the street's estimate of ₹4,011 crore. Meanwhile, the OI of the ICICI Lombard April futures contract rose 9.4%, indicating a short build-up.
⭐UltraTech Cement commissions new unit
₹7,515 ▼79 (-1.0%)
Shares of UltraTech Cement fell 1% on Wednesday after reports suggested that the cement manufacturer has commissioned 2.2mtpa Brownfield expansion at its grinding unit in Bihar. With the addition, the unit's grinding capacity now stands at 4.7mtpa. Meanwhile, the OI of the UltraTech Cement April futures contract fell 1.3%, indicating a long unwinding.
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