Surge in Open Interest Signals Increased Market Activity for CG Power Stock

CG Power & Industrial Solutions Ltd (symbol: CGPOWER) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 25,121 contracts, marking a rise of 2,979 contracts or 13.45% from the previous open interest of 22,142. The trading volume for the day reached 18,143 contracts, contributing to a futures value of approximately Rs 38,397.75 lakhs and an options value of Rs 4,735.40 lakhs, bringing the total value to Rs 39,099.78 lakhs. The underlying value of the stock is noted at Rs 635.
In terms of price performance, CG Power has outperformed its sector by 1.27%, reversing a three-day decline with a modest gain of 0.31% today. The stock reached an intraday high of Rs 652.55, reflecting a 3.1% increase. While the stock is currently above its 20-day and 50-day moving averages, it remains below its 5-day, 100-day, and 200-day moving averages. Notably, the delivery volume has surged by 61.04% compared to the five-day average, indicating increased liquidity, with a trade size of Rs 4.37 crore being manageable based on recent trading patterns. Overall, the notable rise in open interest and trading volume highlights a dynamic shift in market activity for CG Power & Industrial Solutions.