Surge in Open Interest Signals Increased Activity for Mahindra & Mahindra Stock

Mahindra & Mahindra Ltd (M&M), a prominent player in the Automobiles - Passenger Cars sector, has experienced a significant increase in open interest today. The latest open interest stands at 215,102 contracts, marking a notable rise of 46,718 contracts or 27.74% from the previous open interest of 168,384. This surge in open interest coincides with a trading volume of 179,661 contracts, reflecting heightened activity in the stock.
In terms of price performance, M&M has outperformed its sector by 0.98%, with the stock gaining 6.66% over the past three days. Today, it reached an intraday high of Rs 2,820, representing a 2.03% increase. The stock is currently trading above its 5-day, 20-day, and 50-day moving averages, although it remains below its 100-day and 200-day moving averages.

Additionally, the stock has shown rising investor participation, with a delivery volume of 19.93 lakh shares on April 21, which is up by 5.19% compared to the 5-day average. With a market capitalization of Rs 3,45,912 crore, M&M continues to demonstrate robust liquidity, supporting a trade size of Rs 13.81 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and solid trading metrics highlight the stock's active market presence.