Based on the OI percentage, 71 stocks were on the short-covering list. This included PI Industries, MRF, GMR Airports Infrastructure, United Spirits, and Can Fin Homes.
India s city gas
distributor Mahanagar Gas said it will consider hiking gas
prices for customers if a shortfall in subsidised supply
persists, a company executive said. Companies.
Companies including Indraprastha Gas, Gujarat Gas , Mahanagar Gas have seen their margins squeezed because the allocation of natural gas sold under government-set Administered Pricing Mechanism (APM) has fallen because of lower output at domestic wells. To make up the shortfall, the companies have to buy gas on the more expensive open market.
Nifty ended with weekly gains of 2.3% led by IT stocks. PSU Banks outperformed other sectors. Markets will reopen after a holiday week and react to major domestic and global events. RBI will announce monetary policy decisions. US markets closed with strong gains, influencing Indian markets. Several companies will announce Q3FY2024 earnings. Rupee remained flat against the dollar. Corporate actions include ex-dates and record dates for interim dividends. Technical factors and FII/DII action will also impact the market.
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