Open Interest and Volume Dynamics
The latest data reveals that POWERGRID’s open interest in derivatives rose sharply by 7,630 contracts, a 14.71% increase from the previous figure of 51,854 to 59,484. This substantial uptick in OI is accompanied by a robust futures volume of 43,795 contracts, indicating heightened trading activity and investor interest in the stock’s near-term prospects.
In monetary terms, the futures segment recorded a value of approximately ₹36,883.6 lakhs, while the options segment’s value stood at an impressive ₹22,774.7 crores, culminating in a total derivatives value of ₹41,761.7 lakhs. Such figures underscore the significant liquidity and market depth available for POWERGRID, making it an attractive instrument for both hedgers and speculators.
Price Performance and Technical Positioning
POWERGRID’s underlying price closed at ₹308, just 4.36% shy of its 52-week high of ₹322, reflecting sustained strength in the stock. The share price has outperformed its sector by 1.35% on the day, while also delivering a 0.51% gain compared to the Sensex’s 0.38% rise. Notably, the stock has recorded four consecutive days of gains, accumulating a 4.72% return over this period.
Intraday, POWERGRID touched a high of ₹311.7, up 2.26%, and is currently trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a strong bullish trend. The rising delivery volume of 88.43 lakh shares on 24 Feb, which is 35.22% higher than the five-day average, further confirms growing investor participation and conviction.
Market Positioning and Potential Directional Bets
The surge in open interest alongside rising volumes typically indicates fresh positions being established rather than existing ones being squared off. This pattern suggests that traders and institutional investors are increasingly positioning for a continuation of the upward momentum in POWERGRID’s stock price.
Given the stock’s proximity to its 52-week high and strong technical indicators, the market appears to be favouring bullish bets. The increased OI in futures and options could be reflective of directional strategies such as long futures or call option buying, aimed at capitalising on anticipated price appreciation. Conversely, some participants might be employing protective puts or spread strategies to hedge their exposure amid broader market uncertainties.
Transformation in full progress! This Micro Cap from Auto Ancillary just achieved sustainable profitability after tough times. Be early to witness this powerful comeback story!
- - Sustainable profitability reached
- - Post-turnaround strength
- - Comeback story unfolding
Mojo Score Upgrade and Market Sentiment
Reflecting the improved market outlook, MarketsMOJO has upgraded POWERGRID’s Mojo Grade from Sell to Hold as of 24 Feb 2026, with a current Mojo Score of 51.0. While the stock remains a Hold, this upgrade signals a positive shift in fundamentals and technicals, encouraging investors to monitor the stock closely for further developments.
Despite the upgrade, the Market Cap Grade remains at 1, consistent with its large-cap status and stable market capitalisation of ₹2,87,342 crores. The stock’s liquidity profile is robust, supporting trade sizes up to ₹6.98 crores based on 2% of the five-day average traded value, which is conducive for institutional participation.
Sectoral and Broader Market Context
Within the power sector, POWERGRID’s outperformance is notable given the sector’s modest 0.12% decline on the day. This divergence highlights the company’s relative strength amid sectoral headwinds and positions it favourably against peers. The Sensex’s 0.38% gain further contextualises POWERGRID’s 0.51% rise as a solid performance in a broadly positive market environment.
Investors should also consider the broader macroeconomic factors impacting the power industry, including regulatory developments, infrastructure investments, and demand growth, which could influence POWERGRID’s medium to long-term trajectory.
Holding Power Grid Corporation of India Ltd from Power? See if there's a smarter choice! SwitchER compares it with peers and suggests superior options across market caps and sectors!
- - Peer comparison ready
- - Superior options identified
- - Cross market-cap analysis
Investor Takeaways and Outlook
For investors and traders, the recent surge in open interest and volume in POWERGRID’s derivatives market is a clear signal of increased market engagement and potential directional conviction. The stock’s technical strength, combined with improved Mojo grading and strong liquidity, makes it a compelling candidate for those seeking exposure to the power sector’s growth story.
However, given the stock’s proximity to its 52-week high and the inherent volatility in derivatives trading, cautious monitoring is advised. Investors should weigh the bullish signals against broader market risks and sector-specific challenges before committing significant capital.
Overall, the current market positioning suggests a tilt towards bullish strategies, but prudent risk management remains paramount in navigating the evolving landscape.
Conclusion
Power Grid Corporation of India Ltd’s recent open interest surge in derivatives, coupled with strong price performance and upgraded market sentiment, underscores a positive shift in investor outlook. The stock’s technical indicators and liquidity profile support continued interest from both institutional and retail participants. While the Mojo Grade upgrade to Hold reflects cautious optimism, the evolving market dynamics warrant close attention to confirm sustained momentum.
Limited Period Only. Start at Rs. 9,999 - Get MojoOne for 1 Year + 3 Months FREE (60% Off) Get 71% Off →
