Hitachi Energy India Ltd Sees 30.91% Surge in Open Interest Amid Trading Activity

Hitachi Energy India Ltd, a player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 4,794 contracts, marking a rise of 1,132 contracts or 30.91% from the previous open interest of 3,662. This uptick coincides with a trading volume of 5,741 contracts, indicating heightened activity in the stock.
In terms of price performance, Hitachi Energy India has underperformed its sector by 2.34%, with the stock touching an intraday low of Rs 17,100, reflecting a decline of 2.1%. The stock has seen a reversal in trend after two consecutive days of gains, with a one-day return of -1.63%. Despite this, it remains above its 200-day moving average, although it is trading lower than its 5-day, 20-day, 50-day, and 100-day moving averages.

Investor participation appears to be waning, as evidenced by a delivery volume of 2.11k on October 21, which has decreased by 92.21% compared to the 5-day average. The liquidity remains adequate for a trade size of Rs 1.93 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Hitachi Energy India Ltd.