Patanjali Foods Ltd Sees 21.35% Surge in Open Interest to 56,180 Contracts

Patanjali Foods Ltd, a prominent player in the edible oil industry, has experienced a significant increase in open interest today. The latest open interest stands at 56,180 contracts, marking a notable rise of 9,886 contracts or 21.35% from the previous open interest of 46,294. This surge in open interest coincides with a trading volume of 31,456 contracts, indicating active participation in the futures market.
In terms of performance, Patanjali Foods has outperformed its sector by 1.36% today, with a 1.56% return on the day. The stock has shown consistent gains over the past three days, accumulating a total return of 3.69% during this period. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a strong upward trend.

However, it is worth noting a decline in delivery volume, which has fallen by 39.97% compared to the 5-day average, with a delivery volume of 2.33 lakh shares recorded on October 28. Despite this, the stock remains liquid enough for trading, with a market capitalization of Rs 65,585.16 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for Patanjali Foods.