Havells India Sees Significant Open Interest Surge Amid Active Futures Trading

Havells India Ltd., a prominent player in the Electronics & Appliances sector, has experienced a significant increase in open interest today. The latest open interest stands at 30,070 contracts, reflecting a rise of 4,032 contracts or 15.49% from the previous open interest of 26,038. This uptick in open interest coincides with a trading volume of 26,290 contracts, indicating active participation in the futures market.
In terms of price performance, Havells India has shown a modest 1-day return of 0.31%, underperforming its sector, which recorded a 1-day return of 0.55%. Over the past three days, the stock has gained 3.37%, although it remains below its 200-day moving average while exceeding the 5-day, 20-day, 50-day, and 100-day moving averages.

Despite a recent decline in delivery volume, which fell by 17.75% against the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 2 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 98,304.46 crore, Havells India continues to be a significant entity in its industry. The notable increase in open interest highlights a shift in market dynamics, warranting attention from market participants.