Crompton Greaves Sees Surge in Open Interest Amid Mixed Trading Performance
Crompton Greaves Consumer Electricals Ltd has seen a significant rise in open interest, reaching 31,896 contracts, alongside a notable increase in trading volume. Despite this activity, the stock has underperformed its sector and is trading below key moving averages, indicating a bearish trend. The company maintains a market capitalization of Rs 21,084.75 crore.
Crompton Greaves Consumer Electricals Ltd (CROMPTON) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 31,896 contracts, up from the previous figure of 28,878, marking a change of 3,018 contracts or a 10.45% increase. The trading volume for the stock reached 13,893 contracts, contributing to a futures value of approximately Rs 27,619.65 lakhs.Despite this surge in open interest, Crompton's stock performance has underperformed its sector, showing a decline of 1.18% compared to a sector gain of 0.34%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the short to medium term.
Additionally, the stock has seen a significant rise in delivery volume, with 26.76 lakh shares delivered on May 14, reflecting a 223.34% increase against the 5-day average. With a market capitalization of Rs 21,084.75 crore, Crompton remains a key player in the consumer durables electronics industry. Overall, the increase in open interest highlights a shift in market dynamics, warranting close observation.
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