CG Power & Industrial Solutions Sees 11.79% Rise in Open Interest to 32,241 Contracts

CG Power & Industrial Solutions Ltd (symbol: CGPOWER) has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 32,241 contracts, up from the previous figure of 28,840, marking a change of 3,401 contracts or an 11.79% increase. This surge in open interest coincides with a trading volume of 25,983 contracts, indicating robust participation in the market.
In terms of price performance, CG Power has underperformed its sector by 2.27%, with the stock reaching an intraday low of Rs 729.7, down 2.52% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point. Notably, the stock remains above its 5-day, 50-day, 100-day, and 200-day moving averages, although it is below the 20-day moving average.

Additionally, the delivery volume on October 29 has risen significantly, with 21.89 lakh shares delivered, reflecting a 56.11% increase compared to the 5-day average. With a market capitalization of Rs 1,16,532.23 crore, CG Power continues to maintain a liquid trading environment, suitable for transactions of Rs 5 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for CG Power, warranting attention from market participants.