Piramal Pharma Sees Significant Surge in Open Interest Amid Increased Trading Activity
Piramal Pharma Ltd has seen a significant rise in open interest, reaching 13,371 contracts, alongside a trading volume of 20,230 contracts. The stock has outperformed its sector and achieved consistent gains over the past two days, despite a decline in delivery volume compared to the five-day average.
Piramal Pharma Ltd, a small-cap player in the Pharmaceuticals and Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 13,371 contracts, reflecting a rise of 1,855 contracts or 16.11% from the previous open interest of 11,516. This surge in open interest comes alongside a trading volume of 20,230 contracts, indicating heightened activity in the stock.In terms of price performance, Piramal Pharma has outperformed its sector by 2.05%, with a 1D return of 2.22%. The stock has shown consistent gains over the last two days, accumulating a total return of 2.48% during this period. Today, it reached an intraday high of Rs 209.44, marking a 3% increase.
Despite this positive momentum, the stock has seen a decline in delivery volume, which fell by 46.95% compared to the five-day average. Additionally, while the stock's price is above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average.
Overall, the increase in open interest and the stock's recent performance highlight a significant moment for Piramal Pharma, reflecting active trading dynamics within the market.
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