Tata Power Sees 12.65% Surge in Open Interest, Reaching 82,305 Contracts

Tata Power Company Ltd, a prominent player in the power industry, has experienced a notable increase in open interest today. The latest open interest stands at 82,305 contracts, reflecting a significant rise of 9,244 contracts or 12.65% from the previous open interest of 73,061. This uptick coincides with a trading volume of 55,519 contracts, indicating active participation in the market.
In terms of performance, Tata Power has outperformed its sector by 0.67%, despite facing a decline of 0.91% over the past two days. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust position in the market. However, it is noteworthy that the delivery volume has decreased significantly, with a reported 17.34 lakh shares delivered on October 30, marking a 45.1% drop compared to the 5-day average.

With a market capitalization of Rs 1,29,970.44 crore, Tata Power remains a key player in the power sector. The increase in open interest may indicate a shift in market dynamics, warranting close observation of future developments.