Shriram Finance Sees Surge in Open Interest Amid Increased Trading Activity

Shriram Finance Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 74,706 contracts, reflecting a rise of 7,475 contracts or 11.12% from the previous open interest of 67,231. This surge in open interest comes alongside a trading volume of 48,150 contracts, indicating heightened activity in the stock. In terms of price performance, Shriram Finance has outperformed its sector by 2.06%, with the stock reaching an intraday high of Rs 696.45, marking a 3.16% increase for the day. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory. Despite this positive performance, there has been a noted decline in delivery volume, which fell by 29.7% compared to the 5-day average, with a delivery volume of 17.48 lakh shares recorded on June 25. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 6.29 crore based on 2% of the 5-day average traded value. In summary, Shriram Finance Ltd's notable increase in open interest and solid price performance highlights its current market position, while the decline in delivery volume presents an interesting dynamic in trading activity.