Patanjali Foods Ltd Sees 38.19% Surge in Open Interest Amid Declining Stock Performance

Patanjali Foods Ltd, a mid-cap player in the edible oil industry, has experienced a significant increase in open interest today, signaling notable trading activity. The latest open interest stands at 61,938 contracts, up from the previous 44,822 contracts, marking a change of 17,116 contracts or a 38.19% increase. The trading volume for the day reached 74,463 contracts, contributing to a futures value of approximately Rs 75.44 crore.
Despite this surge in open interest, the stock has underperformed its sector, declining by 4.87% today. Over the past two days, Patanjali Foods has seen a consecutive fall, with a total return of -5.66%. The stock touched an intraday low of Rs 565.05, reflecting a decrease of 6.2% at its lowest point. The weighted average price indicates that more volume was traded closer to this low price, highlighting the stock's high volatility, which was calculated at 5.1% for the day.

Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Delivery volume has also decreased significantly, falling by 31.79% compared to the 5-day average. Overall, while the increase in open interest suggests heightened trading activity, the stock's performance metrics indicate ongoing challenges in the market.