Surge in Open Interest Signals Increased Trading Activity for Granules India Ltd
Granules India Ltd has seen a significant rise in open interest, reaching 26,607 contracts, alongside a trading volume of 27,112 contracts, indicating increased market activity. Despite a decline in stock price, delivery volume has surged, reflecting heightened trading conditions for the company in the Pharmaceuticals & Biotechnology sector.
Granules India Ltd, a mid-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 26,607 contracts, reflecting a rise of 2,935 contracts or 12.4% from the previous OI of 23,672. This surge in OI comes alongside a trading volume of 27,112 contracts, indicating heightened activity in the stock.In terms of price performance, Granules India has underperformed its sector by 0.45%, with the stock experiencing a decline of 1.04% today. The stock reached an intraday low of Rs 518.05, marking a decrease of 2.03%. Despite this, the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is trading below its 200-day moving average.
Additionally, the stock has seen a significant increase in delivery volume, with 8.5 lakh shares delivered on May 27, representing a 215.18% rise compared to the 5-day average. With a market capitalization of Rs 12,831 crore, Granules India continues to maintain liquidity suitable for trades around Rs 1.17 crore. Overall, the increase in open interest highlights a shift in market dynamics for Granules India, reflecting active trading conditions.
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