Piramal Pharma Sees Surge in Open Interest Amid Increased Trading Activity
Piramal Pharma Ltd has seen a significant rise in open interest, reaching 8,073 contracts, alongside a trading volume of 8,287 contracts. The stock has outperformed its sector and gained over the past two days, although investor participation has declined. It maintains a large-cap status in the Pharmaceuticals and Biotechnology industry.
Piramal Pharma Ltd (PPLPHARMA) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 8,073 contracts, up from the previous 6,773, marking a significant change of 1,300 contracts or 19.19%. The trading volume for the day reached 8,287 contracts, indicating robust engagement from market participants.In terms of price performance, Piramal Pharma has outperformed its sector by 2.08%, with the stock gaining 3.29% over the last two days. Today, it reached an intraday high of Rs 208.25, reflecting a rise of 3.62%. The stock is currently positioned above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Despite the positive price movement, there has been a decline in investor participation, with delivery volume dropping by 22.69% compared to the 5-day average. The stock maintains a market capitalization of Rs 27,583.23 crore, categorizing it as a large-cap entity in the Pharmaceuticals and Biotechnology industry. Overall, the increase in open interest alongside the recent price gains highlights a dynamic trading environment for Piramal Pharma.
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