TVS Motor shines on new launches

Good morning!☕🗞️

Check out the open interest of the companies from the F&O corner that are making headlines  ⤵️

Options setup (Expiry: 29 March)

⭐Sun Pharma acquires animal healthcare company
₹981 ▲ 8 (+0.8%)

The Drug major announced that it will acquire a 60% stake in animal healthcare company, Vivaldis Health & Foods for ₹143 crore. Against this backdrop, the shares of Sun Pharma rose nearly 1 % on Monday, while the OI of its March Futures contract dropped 42%, indicating short covering. The call option OI of 980 and 990 strikes declined 25% and 4%, respectively.

⭐TVS Motor shines on new launches
₹1,045 ▲ 3 (+0.2%)

Shares of TVS Motor ended with gains on Monday, while the OI of its March Futures contract fell 41%, indicating short covering. This comes after the two-wheeler major launched seven new products in Ghana, Africa.

⭐Dalmia Cement to sell stake in associate firm
₹1,864 ▲ 33 (+1.8%)

Dalmia Bharat shares gained nearly 2% on Monday after its subsidiary Dalmia Cement sold its entire stake in its associate company Dalmia Bharat Refractories to the promoter group company, Sarvapriya Healthcare. Against this backdrop, the OI of its March futures contract fell 40%, indicating short covering.

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