Piramal Pharma Sees 12.2% Surge in Open Interest Amid Declining Stock Performance

Piramal Pharma Ltd, a small-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 18,403 contracts, reflecting a rise of 2,001 contracts or 12.2% from the previous OI of 16,402. This uptick comes alongside a trading volume of 14,423 contracts, indicating active market engagement.
Despite this increase in OI, Piramal Pharma's stock has underperformed relative to its sector, showing a decline of 1.81% today. The stock has been on a downward trend, with a consecutive fall over the last two days, resulting in a total decline of 4.41% during this period. The stock reached an intraday low of Rs 190.72, down 3.47% from the previous close.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 8.53 lakh shares on October 13, which has decreased by 15.84% compared to the five-day average. Currently, Piramal Pharma is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Overall, the increase in open interest highlights a significant shift in trading activity, even as the stock grapples with broader performance challenges.