Tata Communications Sees Significant Open Interest Surge Amid Mixed Market Performance
Tata Communications Ltd has seen a significant rise in open interest, reaching 38,132 contracts, alongside a trading volume of 23,435 contracts. The company, with a market capitalization of approximately Rs 47,996.85 crore, shows mixed performance metrics, indicating a complex trading environment despite the increase in open interest.
Tata Communications Ltd, a prominent player in the Telecom Services industry, has experienced a notable increase in open interest today. The latest open interest stands at 38,132 contracts, reflecting a rise of 3,762 contracts or 10.95% from the previous open interest of 34,370. This surge in open interest comes alongside a trading volume of 23,435 contracts, indicating active market engagement.In terms of financial metrics, Tata Communications has a market capitalization of approximately Rs 47,996.85 crore, categorizing it as a large-cap stock. The underlying value of the stock is reported at Rs 1,684. Despite the increase in open interest, the stock has underperformed its sector by 0.56% today, with a 1D return of -0.36%.
Additionally, the stock's performance relative to moving averages shows it is currently above the 5-day, 20-day, 50-day, and 100-day moving averages, but below the 200-day moving average. Notably, delivery volume has decreased by 26.55% compared to the 5-day average, indicating a decline in investor participation.
Overall, the increase in open interest for Tata Communications highlights a significant shift in market dynamics, while the stock's performance metrics suggest a complex trading environment.
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