Torrent Power Ltd. Sees 21.74% Surge in Open Interest, Reaching 18,498 Contracts
Torrent Power Ltd. has seen a notable rise in open interest, reaching 18,498 contracts, alongside a trading volume of 13,254 contracts. The stock has outperformed its sector and experienced a significant increase in delivery volume, indicating strong market participation and liquidity in the mid-cap power sector.
Torrent Power Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 18,498 contracts, up from the previous 15,195, marking a change of 3,303 contracts or a 21.74% increase. This surge coincides with a trading volume of 13,254 contracts, indicating robust participation in the market.In terms of price performance, Torrent Power has outperformed its sector by 0.72%, recovering from three consecutive days of decline. The stock reached an intraday high of Rs 1,319, representing a gain of 3.27%. Currently, the stock's price is above its 20-day and 50-day moving averages, although it remains below the 5-day, 100-day, and 200-day moving averages.
The power generation and distribution sector has also shown positive momentum, gaining 2.2% today. Notably, the delivery volume for Torrent Power surged to 549,000 shares on October 28, reflecting a remarkable increase of 171.39% compared to the five-day average. With a market capitalization of Rs 64,686 crore, Torrent Power continues to demonstrate liquidity suitable for trades around Rs 1.31 crore. Overall, the notable rise in open interest and trading activity underscores a dynamic day for Torrent Power in the mid-cap power sector.
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