APL Apollo Tubes Sees Significant Open Interest Surge Amid Active Trading Environment
APL Apollo Tubes Ltd has seen a notable rise in open interest, reaching 30,033 contracts, alongside a trading volume of 14,036 contracts. The stock hit a new 52-week high and is performing well against its moving averages, although delivery volume has decreased significantly. The company has a market capitalization of Rs 51,080 crore.
APL Apollo Tubes Ltd, a prominent player in the Iron & Steel Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 30,033 contracts, reflecting a rise of 2,753 contracts or 10.09% from the previous open interest of 27,280. This uptick coincides with a trading volume of 14,036 contracts, indicating active market engagement.The stock reached a new 52-week high of Rs. 1,848.6 today, continuing its upward trajectory with a 2.7% gain over the past four days. APL Apollo Tubes is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, showcasing a strong performance relative to its historical price trends. However, it is noteworthy that delivery volume has decreased by 28.95% compared to the 5-day average, suggesting a decline in investor participation.
With a market capitalization of Rs 51,080 crore, APL Apollo Tubes remains a liquid stock, suitable for trades around Rs 2.11 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for APL Apollo Tubes, reflecting the stock's current market activity.
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