Piramal Pharma Sees Significant Rise in Open Interest Amid Increased Trading Activity
Piramal Pharma Ltd has seen a significant rise in open interest, reaching 5,219 contracts, alongside a trading volume of 2,888 contracts. The company's futures and options values contribute to a total of Rs 52.88 crore. Delivery volume has also surged, indicating increased market activity.
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 5,219 contracts, reflecting a rise of 568 contracts or 12.21% from the previous open interest of 4,651. This uptick in open interest comes alongside a trading volume of 2,888 contracts, indicating active participation in the market.In terms of financial metrics, Piramal Pharma's futures value is reported at Rs 50.47 crore, while the options value is significantly higher at approximately Rs 10,634.42 crore, contributing to a total value of Rs 52.88 crore. The underlying value of the stock is currently at Rs 207.
Despite this activity, Piramal Pharma's stock has underperformed its sector by 1.84% today, with a 1-day return of -1.46%. The stock is trading above its 5-day and 20-day moving averages but remains below its 50-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has surged to 40.16 lakh shares, marking a 158.31% increase compared to the 5-day average, suggesting heightened trading activity.
In summary, the increase in open interest for Piramal Pharma highlights a significant shift in market dynamics, reflecting the stock's current trading environment without indicating future trends.
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