Rail Vikas Nigam Ltd Sees 14.52% Surge in Open Interest Amid Increased Trading Activity

Rail Vikas Nigam Ltd (RVNL), a mid-cap player in the construction industry, has experienced a notable increase in open interest today. The latest open interest stands at 45,903 contracts, reflecting a rise of 5,819 contracts or 14.52% from the previous open interest of 40,084. This surge in open interest comes alongside a trading volume of 22,321 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, RVNL has underperformed its sector by 1.59%, with the stock touching an intraday low of Rs 346.7, representing a decline of 2.3%. The stock is currently positioned above its 5-day, 20-day, and 50-day moving averages, yet remains below its 100-day and 200-day moving averages, suggesting mixed momentum in the short to medium term.

Additionally, the stock has seen a significant rise in delivery volume, with 18.71 lakh shares delivered on October 7, marking an increase of 82.52% compared to the 5-day average delivery volume. With a market capitalization of Rs 73,445 crore, RVNL continues to maintain a liquid trading environment, suitable for transactions around Rs 3.22 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Rail Vikas Nigam Ltd.