Hitachi Energy India Ltd Sees 14.02% Surge in Open Interest Amid Increased Trading Activity

Hitachi Energy India Ltd, a prominent player in the Heavy Electrical Equipment sector, has experienced a notable increase in open interest today. The latest open interest stands at 5,441 contracts, reflecting a rise of 669 contracts or 14.02% from the previous open interest of 4,772. This surge in open interest coincides with a trading volume of 3,701 contracts, indicating heightened activity in the derivatives market.
In terms of performance, Hitachi Energy India has underperformed its sector by 1.28%, with a 1D return of -1.22%. The stock has been on a downward trend, recording a consecutive fall over the last two days, resulting in a total decline of 3.47% during this period. While the stock is currently trading above its 200-day moving average, it remains below its 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the stock has shown increased liquidity, with a delivery volume of 41,390 shares on October 23, marking a significant rise of 102.44% compared to the 5-day average delivery volume. The total market capitalization of Hitachi Energy India is approximately Rs 75,180.20 crore, positioning it as a mid-cap entity in the market. Overall, the increase in open interest highlights a shift in market dynamics for Hitachi Energy India, reflecting the ongoing trading activity without indicating future price movements.