Surge in Open Interest Signals Increased Trading Activity for IREDA Stock
Indian Renewable Energy Development Agency Ltd (IREDA) has seen a significant rise in open interest, indicating increased trading activity. The stock has outperformed its sector and reached an intraday high, although investor participation has declined. IREDA maintains adequate liquidity and is classified as a mid-cap stock.
Indian Renewable Energy Development Agency Ltd (IREDA) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 17,659 contracts, up from the previous 16,035, marking a change of 1,624 contracts or a 10.13% increase. The trading volume for the day reached 32,485 contracts, indicating robust engagement in the market.In terms of performance, IREDA has outperformed its sector by 3.54%, with a stock price increase of 4.66% over the last two days. The stock reached an intraday high of Rs 154.44, representing a 4.81% gain during the session. While the stock is currently trading above its 5-day, 20-day, and 50-day moving averages, it remains below the 100-day and 200-day moving averages.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 62.3% compared to the 5-day average. The liquidity remains adequate for trading, with a market cap of Rs 42,958.76 crore, categorizing IREDA as a mid-cap stock. Overall, the increase in open interest and recent performance metrics highlight significant trading activity in IREDA.
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