Coforge Ltd Sees Surge with 3,470 Active Call Contracts at Rs 8,500 Strike

Coforge Ltd, a prominent player in the IT software industry, has emerged as one of the most active stocks today, particularly in the options market. The company’s underlying stock, COFORGE, has seen significant activity with 3,470 call contracts traded, reflecting a turnover of approximately Rs 675.25 lakhs. The options have an expiry date set for May 29, 2025, with a strike price of Rs 8,500. Currently, the underlying value of Coforge stands at Rs 8,455.50, indicating a robust market position.
In terms of performance, Coforge has outperformed its sector by 0.74%, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, it is noteworthy that investor participation has declined, with a delivery volume of 2.33 lakhs on May 14, down 34.19% compared to the 5-day average. The stock remains liquid, accommodating trade sizes of up to Rs 4.7 crores based on 2% of the 5-day average traded value.

In summary, Coforge's notable activity in the options market, coupled with its strong performance metrics, underscores its significant presence in the IT software sector, despite a recent dip in investor participation.