Hitachi Energy India Ltd Sees 26.8% Surge in Open Interest to 4,992 Contracts

Hitachi Energy India Ltd, a player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 4,992 contracts, marking a rise of 1,055 contracts or 26.8% from the previous OI of 3,937. This uptick in OI coincides with a trading volume of 4,593 contracts, indicating heightened activity in the derivatives market.
Despite this surge in open interest, the stock has underperformed its sector by 1.77%, reflecting a decline of 2.63% over the past two days. The stock reached an intraday low of Rs 17,280, down 2.8% from its previous close. The weighted average price suggests that more volume was traded closer to this low price point.

In terms of moving averages, the stock is currently above its 5-day and 200-day averages but below the 20-day, 50-day, and 100-day averages. Additionally, delivery volume has decreased by 16.56% compared to the 5-day average, indicating a decline in investor participation. With a market capitalization of Rs 80,059 crore, Hitachi Energy India remains a mid-cap entity in the market. Overall, the notable increase in open interest highlights a shift in trading dynamics for the stock, amidst a backdrop of declining performance metrics.