Torrent Power Ltd. Sees 15.83% Surge in Open Interest Amid Declining Stock Performance

Torrent Power Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 17,601 contracts, up from the previous OI of 15,195 contracts. This marks a change of 2,406 contracts, reflecting a percentage increase of 15.83%. The trading volume for the day stands at 9,941 contracts, indicating active participation in the market.
In terms of price performance, Torrent Power has underperformed its sector by 3.06%, with the stock experiencing a consecutive decline over the past three days, resulting in a total drop of 4.57%. The stock reached an intraday low of Rs 1,266.1, down 4.21% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.

Despite the recent downturn, the stock remains above its 20-day moving averages but is below the 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has seen a notable decline, falling by 73.97% against the 5-day average. With a market capitalization of Rs 66,228 crore, Torrent Power continues to be a mid-cap player in the power industry. Overall, the increase in open interest amidst recent price declines highlights a notable shift in market dynamics for Torrent Power.