Mahanagar Gas Ltd. Sees 4,902 Active Call Contracts at Rs 1,500 Strike Price

Mahanagar Gas Ltd. has emerged as one of the most active stocks in the gas industry today, reflecting significant trading activity. The stock, identified by the ticker MGL, has seen a notable increase in option trading, with 4,902 call contracts traded at a strike price of Rs 1,500, resulting in a turnover of approximately Rs 984.52 lakhs. The open interest stands at 1,207 contracts, indicating ongoing interest in this option.
In terms of performance metrics, Mahanagar Gas has outperformed its sector by 1.37%, with a consecutive gain over the past two days, yielding a total return of 2.18%. The stock reached an intraday high of Rs 1,509.5, marking a 2.07% increase for the day. Additionally, Mahanagar Gas is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Despite a slight decline in delivery volume, which fell by 2% compared to the 5-day average, the stock remains liquid, with a trading size of Rs 0.83 crore based on 2% of the 5-day average traded value. With a market capitalization of Rs 14,871.98 crore, Mahanagar Gas continues to be a significant player in the mid-cap segment of the gas industry. Overall, the stock's performance today underscores its active status in the market.