Shriram Finance Sees 20.22% 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 103,214 contracts, reflecting a rise of 17,363 contracts or 20.22% from the previous open interest of 85,851. This surge in open interest coincides with a trading volume of 75,195 contracts, indicating heightened activity in the stock.
In terms of performance, Shriram Finance has outperformed its sector by 0.59% and has shown consistent gains over the past six days, accumulating a total return of 7.29% during this period. The stock reached an intraday high of Rs 730.3, marking a 2.08% increase for the day. Additionally, Shriram Finance is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

The delivery volume on October 24 was recorded at 33.25 lakh shares, a 19.45% increase compared to the 5-day average, highlighting rising investor participation. With a market capitalization of Rs 1,35,797 crore, Shriram Finance continues to maintain a liquid trading environment, suitable for transactions of Rs 7.33 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and robust trading metrics underscore the stock's active market presence.