Piramal Enterprises Sees Surge in Open Interest Amid Active Derivatives Trading
Piramal Enterprises Ltd has seen a significant rise in open interest, reaching 20,607 contracts, alongside a trading volume of 54,854 contracts, indicating increased activity in the derivatives market. The stock also hit a new 52-week high, reflecting strong upward momentum and robust liquidity.
Piramal Enterprises Ltd, 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 20,607 contracts, marking a notable rise of 4,275 contracts or 26.18% from the previous open interest of 16,332. This surge in open interest coincides with a trading volume of 54,854 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Piramal Enterprises reached a new 52-week high of Rs 1,293.9 today, reflecting a 6.28% increase during the trading session. The stock has shown consistent upward momentum, gaining 11.65% over the past five days and outperforming its sector by 6.19%. Additionally, it has maintained trading levels above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend.
With a market capitalization of Rs 29,128.08 crore, Piramal Enterprises continues to demonstrate robust liquidity, with a delivery volume of 10.62 lakh shares on July 11, which is up 343.73% compared to the 5-day average. Overall, the notable increase in open interest and strong price performance underscores the active trading environment surrounding Piramal Enterprises.
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