Tech Mahindra Sees 10.43% Surge in Open Interest, Reaching 38,995 Contracts
Tech Mahindra Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its trading. The latest open interest stands at 38,995 contracts, reflecting a rise of 3,682 contracts or 10.43% from the previous open interest of 35,313. The trading volume for the day reached 13,741 contracts, contributing to a futures value of approximately Rs 27,523.17 lakhs. The total value, including options, amounts to Rs 29,102.55 lakhs, indicating robust trading dynamics.Despite this surge in open interest, Tech Mahindra's stock performance has underperformed its sector by 0.86%, with a 1-day return of -0.78%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position. Additionally, delivery volume has decreased by 9.41% compared to the 5-day average, with a current delivery volume of 11.3 lakhs.
With a market capitalization of Rs 1,38,789 crore, Tech Mahindra maintains a high dividend yield of 3.18%. Overall, the increase in open interest amidst a backdrop of underperformance highlights the complexities of the current trading environment for the company.
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