CG Power & Industrial Solutions Ltd Sees 11.79% Surge in Open Interest

CG Power & Industrial Solutions Ltd (symbol: CGPOWER) has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 32,241 contracts, up from the previous open interest of 28,840 contracts, marking a change of 3,401 contracts or an 11.79% increase. The trading volume for the day reached 25,983 contracts, contributing to a futures value of approximately Rs 72,537.44 lakhs.
In terms of price performance, CG Power has underperformed its sector by 0.71%, with a 1-day return of -0.12%. The stock has not recorded any consecutive falls, maintaining a stable position with no percentage change in returns over the last period. Notably, the stock's moving averages indicate it is currently above the 5-day, 100-day, and 200-day averages, while it remains below the 20-day and 50-day averages.

Additionally, the stock has seen a significant rise in delivery volume, with 27.6 lakh shares delivered on October 30, reflecting a 54.71% increase compared to the 5-day average. With a market capitalization of Rs 1,15,587 crore, CG Power continues to demonstrate liquidity suitable for trades around Rs 5.74 crore. Overall, the increase in open interest highlights a shift in market dynamics for CG Power, warranting attention from market participants.