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

CG Power & Industrial Solutions Ltd (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 figure of 28,840, marking a change of 3,401 contracts or an 11.79% increase. The trading volume for the day reached 25,983 contracts, indicating robust participation.
In terms of price performance, CG Power underperformed its sector by 2.4%, with the stock hitting an intraday low of Rs 729.7, a decline of 2.52%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock is currently above its 5-day, 100-day, and 200-day moving averages, it remains below the 20-day and 50-day moving averages, indicating mixed short-term trends.

Additionally, the delivery volume on October 29 surged to 21.89 lakh shares, reflecting a 56.11% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 1,15,626.74 crore, CG Power remains a significant player in the heavy electrical equipment industry. Overall, the increase in open interest and trading volume highlights a shift in market dynamics for CG Power, warranting attention from market participants.