Tube Investments of India Ltd Sees 16.38% Surge in Open Interest to 17,835 Contracts

Tube Investments of India Ltd, a prominent player in the Auto Components & Equipments industry, has experienced a significant increase in open interest today. The latest open interest stands at 17,835 contracts, reflecting a rise of 2,510 contracts or 16.38% from the previous open interest of 15,325. This surge comes alongside a trading volume of 13,646 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Tube Investments has underperformed its sector by 1.18%, with a 1D return of -1.04%. The stock has been on a downward trend, recording a decline of 2.21% over the last two days. Currently, the stock's price is above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages, suggesting mixed signals in its short-term performance.

Additionally, the stock has seen a notable increase in delivery volume, which reached 1.15 lakh on October 24, marking a 73.91% rise compared to the 5-day average. With a market capitalization of Rs 60,497.12 crore, Tube Investments remains a liquid option for trades sized at Rs 1.09 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Tube Investments of India Ltd.