Tata Communications Sees Significant Open Interest Surge Amid Market Dynamics Shift

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 36,139 contracts, reflecting a rise of 3,617 contracts or 11.12% from the previous open interest of 32,522. This surge in open interest comes alongside a trading volume of 13,388 contracts, indicating active participation in the market.
In terms of financial metrics, Tata Communications has a market capitalization of Rs 47,851.50 crore, categorizing it as a large-cap stock. The underlying value is reported at Rs 1,681, while the total futures value is approximately Rs 33,468.53 lakh. Despite the increase in open interest, the stock has underperformed its sector by 1.15% today, with a 1D return of -0.53%. Additionally, the stock has been on a downward trend, experiencing a consecutive fall over the last two days, resulting in a total decline of 0.54%.

The stock's liquidity remains adequate, with a delivery volume of 2.17 lakh on May 27, although this figure has decreased by 27.96% compared to the five-day average. Overall, the increase in open interest for Tata Communications highlights a shift in market dynamics, even as the stock faces challenges in performance.