Inox Wind Ltd Sees 26.56% Surge in Open Interest to 43,070 Contracts

Inox Wind Ltd, a player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 43,070 contracts, marking a rise of 9,038 contracts or 26.56% from the previous open interest of 34,032. This surge in open interest coincides with a trading volume of 46,493 contracts, indicating heightened activity in the stock.
Despite this notable uptick in open interest, Inox Wind's stock performance has underperformed its sector, showing a decline of 2.08% today. The stock reached an intraday high of Rs 153.45, reflecting a gain of 3.2%, while it also touched a low of Rs 144.4, down by 2.89%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

In terms of moving averages, Inox Wind is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has seen a rise in delivery volume, with 30.25 lakh shares delivered on November 14, up by 45.52% compared to the 5-day average. With a market capitalization of Rs 25,492 crore, Inox Wind remains a liquid stock, suitable for trades around Rs 1.72 crore based on recent trading activity. Overall, the increase in open interest highlights a notable shift in market dynamics for Inox Wind.