Prestige Estates Projects Sees 14.97% Surge in Open Interest Amid Increased Trading Activity

Prestige Estates Projects Ltd, a mid-cap player in the realty sector, has experienced a notable increase in open interest today. The latest open interest stands at 18,333 contracts, reflecting a rise of 2,387 contracts or 14.97% from the previous open interest of 15,946. This surge in open interest comes alongside a trading volume of 8,450 contracts, indicating heightened activity in the derivatives market.
In terms of financial metrics, the stock's underlying value is reported at Rs 1,759, with a total futures value of approximately Rs 36,832.13 lakhs and an options value of around Rs 3,077.54 crore. The stock's performance today aligns closely with the sector, showing a 1D return of -0.50%, slightly underperforming the sector's return of -0.40% and the Sensex's return of -0.45%.

Despite the increase in open interest, there has been a decline in investor participation, with delivery volume dropping by 37.4% compared to the 5-day average. The stock remains liquid enough for trades sized at Rs 1.96 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for Prestige Estates Projects Ltd.