Power Grid Corporation Sees 11.07% Surge in Open Interest Amid Increased Futures Activity

Power Grid Corporation of India Ltd (POWERGRID) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 72,656 contracts, marking an increase of 7,243 contracts or 11.07% from the previous open interest of 65,413. This surge coincides with a trading volume of 38,352 contracts, indicating robust participation in the derivatives market.
In terms of financial performance, the stock has underperformed its sector by 0.45% today, with a 1D return of -0.85%. Despite this, the stock remains above its 20-day and 50-day moving averages, although it is currently below its 5-day, 100-day, and 200-day moving averages. Notably, the stock has seen a rise in delivery volume, with 1.69 crore shares delivered on October 23, reflecting a substantial increase of 119.54% compared to the 5-day average delivery volume.

Power Grid Corporation of India, operating within the power industry, holds a market capitalization of Rs 2,67,113.34 crore, classifying it as a large-cap entity. The stock also boasts a high dividend yield of 3.07% at the current price, contributing to its appeal among investors. Overall, the notable increase in open interest highlights a shift in trading dynamics for POWERGRID, amidst a backdrop of mixed performance metrics.