Shree Renuka Sugar added 14.30 lakh shares in OI

CNBC-TV18, Research Analyst, Anichya Shah :

It was a similar day in terms of turnover to the last two trading sessions but relatively was a duller day in the F&O space as not too many stocks with more than a 5% OI addition or 5% OI cut. We have been seeing Rs 45,000 crore of turnover for the last few trading sessions. Nifty saw a fair bit of covering near those 3,800 levels which is why one saw probably on a LTP basis, it went into a bit of a premium towards the end and net-net actually some bit of unwinding in OI in tomorrow’s ‘Bhav’ copy. But net-net, there has been a bit of short covering in today’s trading session. Profit booking by the shorts was evident at that level, which is why 40-points was the discount yesterday and today we have seen that discount completely vanished.

Shree Renuka Sugars was definitely the stock of the day. We saw OI buildup from the beginning of the session. The stock saw buildup of about 14.30 lakh shares in OI.

Which is about is 20% OI build and it went into a pretty neat premium. The stock ended the day up about 7.5%.

Unitech saw shorts continuing. At the beginning of the day, it had about 3% OI buildup and then was down about a 5%. But the stock ended the day at much lower level, down about 9% with about an 18% OI buildup. So the shorts continue in this counter.

Giving Unitech company as a shorting candidate would probably be IDFC. This stock was down a fair bit as well. The stock witnessed a 13% OI buildup and it was down about 5%.

PFC had an interesting day of trade. Initially after its results came out, it saw a bit of a downwards spike but then along with some cash buying, remember, it’s cash volumes were about 2.5 times, it did see a huge long buildup at lower levels after going into the red and therefore the stock at day end went into a premium and was up in green with huge OI buildup.

Ranbaxy, very interestingly, which lost 25% in the previous two trading sessions, today regained 15% from those lows and one can see that day before yesterday, it shed about 19-20 lakh shares. On a bit of short covering it shed 11 lakh shares and the stock rallied a fair bit.