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

CG Power & Industrial Solutions Ltd, a prominent player in the Heavy Electrical Equipment industry, 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 heightened activity in the stock.
In terms of performance, CG Power has underperformed its sector by 1%, with a 1D return of -0.64%. The stock has been on a downward trend, recording a consecutive decline over the past two days, resulting in a total drop of 2.45% during this period. Despite this, the stock's moving averages indicate that it is currently above the 100-day and 200-day averages, although it remains below the 5-day, 20-day, and 50-day averages.

Investor participation has seen a rise, with a delivery volume of 27.6 lakh shares on October 30, marking an increase of 54.71% compared to the 5-day average. The liquidity of CG Power is also noteworthy, as it is liquid enough for a trade size of Rs 5.74 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for CG Power, amidst its recent performance challenges.