Piramal Enterprises Sees Surge in Open Interest Amid Strong Trading Activity
Piramal Enterprises Ltd has seen a notable rise in open interest, reaching 19,993 contracts, alongside a trading volume of 69,044 contracts. The stock achieved a new 52-week high and has demonstrated strong upward momentum, significantly outperforming its sector, indicating a vibrant trading atmosphere.
Piramal Enterprises Ltd (PEL), a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 19,993 contracts, reflecting a rise of 3,661 contracts or 22.42% from the previous open interest of 16,332. This surge in open interest coincides with a trading volume of 69,044 contracts, indicating robust market activity.In terms of price performance, Piramal Enterprises reached a new 52-week high of Rs 1,293.9 today, marking a 6.28% increase during the trading session. The stock has shown consistent upward momentum, gaining 11.19% over the past five days and outperforming its sector by 5.8%. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend.
The liquidity of Piramal Enterprises remains healthy, with a delivery volume of 10.62 lakh shares on July 11, reflecting a remarkable increase of 343.73% compared to the 5-day average delivery volume. Overall, the notable rise in open interest and strong price performance underscores the active trading environment surrounding Piramal Enterprises.
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