Torrent Power Ltd. Sees 14.54% Surge in Open Interest to 17,735
Torrent Power Ltd. has seen a notable rise in open interest, reaching 17,735 contracts, alongside a trading volume of 8,286 contracts. Despite recent challenges, the stock's price remains above several moving averages. The company, with a market cap of Rs 67,105 crore, operates in the power sector.
Torrent Power Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 17,735 contracts, up from the previous open interest of 15,483, marking a change of 2,252 contracts or a 14.54% increase. The trading volume for the day reached 8,286 contracts, contributing to a total futures value of approximately Rs 23,071.14 lakhs.Despite this uptick in open interest, the stock has faced challenges in recent trading sessions, having declined by 0.53% over the last two days. Currently, Torrent Power's price is above its 5-day, 20-day, and 50-day moving averages, yet it remains below its 100-day and 200-day moving averages, indicating mixed performance trends. Additionally, the stock's delivery volume on October 24 was recorded at 1.79 lakhs, which represents a significant drop of 41.63% compared to the 5-day average delivery volume.
With a market capitalization of Rs 67,105 crore, Torrent Power operates within the power industry as a mid-cap entity. The current liquidity levels suggest that the stock remains accessible for trading, with a trade size of Rs 0.97 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Torrent Power, amidst a backdrop of fluctuating stock performance.
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