IRCTC Sees 15.55% Surge in Open Interest Amid Increased Trading Activity

Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 44,436 contracts, up from the previous open interest of 38,455 contracts, marking a change of 5,981 contracts or a 15.55% increase. The trading volume for the day reached 45,626 contracts, indicating robust participation in the market.
In terms of financial metrics, the stock's performance today has outperformed its sector by 2.23%, despite a slight decline of 0.69% in its one-day return. The stock has shown a trend reversal after four consecutive days of gains. Currently, it is trading above its 5-day moving averages but below the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting mixed momentum.

The travel services sector, in contrast, has seen a decline of 2.73%. Notably, IRCTC's delivery volume on November 12 reached 299,000 shares, reflecting a 29.5% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 56,872 crore, IRCTC remains a notable player in the mid-cap segment of the tour and travel-related services industry. Overall, the increase in open interest highlights a notable shift in trading dynamics for IRCTC.