Tata Communications Sees Significant Open Interest Surge Amidst Active Trading Environment

Tata Communications Ltd, a prominent player in the Telecom Services industry, has experienced a significant increase in open interest today. The latest open interest stands at 17,481 contracts, reflecting a notable rise of 3,561 contracts or 25.58% from the previous open interest of 13,920. This surge in open interest coincides with a trading volume of 15,916 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Tata Communications has outperformed its sector by 1.51%, with the stock gaining for the last seven consecutive days, resulting in a total return of 7.09% during this period. Today, the stock opened with a gain of 3.78%, reaching an intraday high of Rs 1,794, which represents a 3.95% increase. 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.

Despite a decline in delivery volume, which fell by 24.31% against the 5-day average, Tata Communications maintains a market capitalization of Rs 49,971.90 crore, positioning it firmly within the large-cap segment. Overall, the increase in open interest and positive price movements highlight a dynamic trading environment for Tata Communications.