Apollo Tyres Sees Surge in Open Interest Amid Increased Trading Activity

Apollo Tyres Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 8,277 contracts, up from the previous 7,404 contracts, marking a change of 873 contracts or an 11.79% increase. The trading volume for the day reached 4,856 contracts, contributing to a futures value of approximately Rs 7,327.94 lakhs and an options value of Rs 2,889.78 crores, bringing the total value to around Rs 7,848.89 lakhs.
In terms of price performance, Apollo Tyres has been under pressure, recording a decline of 1.46% over the past four days. Currently, the stock is trading inline with its sector, with a 1D return of -0.33%, compared to a sector return of 0.06% and a Sensex return of -0.41%. The stock's moving averages indicate it is above the 20-day and 50-day averages but below the 5-day, 100-day, and 200-day averages.

Additionally, there has been a notable rise in delivery volume, which reached 8.92 lakh shares on March 27, reflecting a 24.62% increase compared to the five-day average. With a market capitalization of Rs 27,074 crores, Apollo Tyres remains a significant player in the Tyres & Allied industry. The increase in open interest today highlights the ongoing trading dynamics surrounding the stock.