HFCL Ltd Sees Significant Surge in Open Interest Amid Active Market Participation
HFCL Ltd has seen a significant rise in open interest, reaching 36,346 contracts, alongside a trading volume of 24,151 contracts, indicating heightened market activity. Despite recent price declines, the company maintains a market capitalization of Rs 12,151.63 crore, reflecting its importance in the telecom sector.
HFCL Ltd, a mid-cap player in the Telecom Equipment & Accessories industry, has experienced a notable increase in open interest today. The latest open interest stands at 36,346 contracts, reflecting a rise of 3,926 contracts or 12.11% from the previous open interest of 32,420. This surge in open interest comes alongside a trading volume of 24,151 contracts, indicating active participation in the market.In terms of price performance, HFCL has underperformed its sector by 2.31%, with the stock recording a 1D return of -2.10%. Over the past two days, HFCL has seen a consecutive decline, totaling a drop of 6.28%. The stock reached an intraday low of Rs 83.02, down 3.51% from the previous close. The weighted average price suggests that more volume was traded closer to this low price.
Despite the recent downturn, HFCL maintains a market capitalization of Rs 12,151.63 crore, indicating its position as a significant player in the telecom sector. The liquidity of the stock remains robust, with a delivery volume of 1.2 crore on May 20, which is 28.9% higher than the five-day average delivery volume. Overall, the increase in open interest highlights a shift in market dynamics for HFCL, warranting attention from market participants.
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