Piramal Pharma Sees Significant Surge in Open Interest Amid Increased Trading Activity
Piramal Pharma Ltd has seen a significant rise in open interest, reaching 5,117, alongside a trading volume of 2,411. Despite underperforming its sector, the stock's delivery volume has surged, reflecting increased market activity. The company maintains a market capitalization of Rs 28,087 crore, ensuring liquidity for transactions.
Piramal Pharma Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 5,117, reflecting a rise of 466 contracts or 10.02% from the previous open interest of 4,651. This surge in open interest comes alongside a trading volume of 2,411, indicating heightened activity in the stock.In terms of price performance, Piramal Pharma has underperformed its sector by 1.04%, with a one-day return of -0.79%. The stock's current price is positioned above its 5-day and 20-day moving averages, yet it remains below the 50-day, 100-day, and 200-day moving averages. Additionally, the stock has seen a significant increase in delivery volume, with 40.16 lakh shares delivered on June 9, marking a 158.31% rise compared to the 5-day average delivery volume.
With a market capitalization of Rs 28,087 crore, Piramal Pharma continues to maintain a liquid trading environment, suitable for transactions up to Rs 1.85 crore based on 2% of the 5-day average traded value. This increase in open interest and trading activity highlights the stock's current market dynamics without indicating future trends.
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