Godrej Properties Sees 11.46% Surge in Open Interest Amid Declining Stock Performance

Godrej Properties Ltd, a prominent player in the realty sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 61,036 contracts, marking a rise of 6,274 contracts or 11.46% from the previous open interest of 54,762. The trading volume for the day reached 35,430 contracts, contributing to a total futures value of approximately Rs 67,004.11 lakhs.
In terms of price performance, Godrej Properties is currently trading close to its 52-week low, just 4.11% above the low of Rs 1,900. The stock has underperformed its sector, showing a decline of 1.86% today, compared to a sector decline of 0.85%. Over the past two days, the stock has seen a consecutive fall, with a total drop of 5.81%. The intraday low was recorded at Rs 1,970.2, reflecting a decrease of 2.42%.

Despite these challenges, there has been a notable rise in delivery volume, which increased by 10.64% against the five-day average, indicating a level of liquidity sufficient for trades around Rs 2.61 crore. Overall, the increase in open interest alongside the current trading metrics highlights a dynamic trading environment for Godrej Properties.