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

CG Power & Industrial Solutions Ltd, a prominent player in the Heavy Electrical Equipment sector, has experienced a notable increase in open interest today. The latest open interest stands at 32,241 contracts, reflecting a rise of 3,401 contracts or 11.79% from the previous open interest of 28,840. This surge in open interest comes alongside a trading volume of 25,983 contracts, indicating active participation in the market.
In terms of price performance, CG Power's stock has underperformed its sector by 2.2%, with an intraday low of Rs 729.7, marking a decline of 2.52%. The weighted average price suggests that more volume was traded closer to this low price point. Notably, the stock is currently positioned above its 5-day, 100-day, and 200-day moving averages, yet remains below its 20-day and 50-day moving averages.

Additionally, there has been a significant rise in delivery volume, which reached 21.89 lakh shares on October 29, reflecting a 56.11% increase compared to the 5-day average. With a market capitalization of Rs 1,15,681.86 crore, CG Power maintains a liquid trading environment, suitable for transactions up to Rs 5 crore. Overall, the increase in open interest highlights a shift in market dynamics for CG Power, warranting attention from market participants.