Piramal Pharma Sees Significant Surge in Open Interest Amid Increased Trading Activity
Piramal Pharma Ltd has seen a significant rise in open interest, reaching 10,642 contracts, alongside a trading volume of 63,657. The stock outperformed its sector, achieving an intraday high of Rs 201.31, while maintaining adequate liquidity despite a slight decline in delivery volume.
Piramal Pharma Ltd, a small-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 10,642 contracts, marking a notable rise of 4,581 contracts or 75.58% from the previous OI of 6,061. This surge in OI coincides with a trading volume of 63,657, indicating heightened activity in the stock.In terms of price performance, Piramal Pharma outperformed its sector by 5.54%, reaching an intraday high of Rs 201.31, which reflects a gain of 7.82% for the day. The stock's weighted average price suggests that more volume was traded closer to its low price, while it remains above its 5-day, 20-day, and 50-day moving averages, but below the 100-day and 200-day moving averages.
Despite a slight decline in delivery volume, which fell by 3.1% against the 5-day average, the stock maintains adequate liquidity for trading, with a market cap of Rs 25,661 crore. Overall, the notable increase in open interest highlights a shift in market dynamics for Piramal Pharma, underscoring the stock's current activity level.
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