Tech Mahindra Sees Surge in Open Interest Amidst Active Derivatives Trading

Tech Mahindra Ltd., a prominent player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 39,734 contracts, reflecting a rise of 3,761 contracts or 10.46% from the previous open interest of 35,973. This uptick in open interest coincides with a trading volume of 63,879 contracts, indicating robust activity in the derivatives market. In terms of price performance, Tech Mahindra has outperformed its sector by 0.78%, with the stock gaining 4.57% over the past five days. Today, it reached an intraday high of Rs 1,633.5, marking a 3.45% 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 this positive momentum, there has been a notable decline in delivery volume, which fell by 71.24% compared to the 5-day average, with a delivery volume of 3.19 lakh shares recorded on June 9. The liquidity remains adequate for trading, with a market cap of Rs 1,58,024.14 crore, positioning Tech Mahindra as a liquid stock for trades around Rs 4.34 crore. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Tech Mahindra.