Surge in Open Interest Signals Increased Trading Activity for IREDA Stock
Indian Renewable Energy Development Agency Ltd (IREDA) has seen a notable rise in open interest, reaching 37,116 contracts, alongside a trading volume of 60,768 contracts. The stock has outperformed its sector and demonstrated increased investor participation, with significant growth in delivery volume and a strong market capitalization.
Indian Renewable Energy Development Agency Ltd (IREDA) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 37,116 contracts, marking a rise of 7,410 contracts or 24.94% from the previous open interest of 29,706. The trading volume for the day reached 60,768 contracts, indicating robust market engagement.In terms of price performance, IREDA has outperformed its sector by 1.21%, with the stock gaining for three consecutive days and achieving a total return of 14.03% during this period. The stock reached an intraday high of Rs 176.77, representing a 3.96% increase. While the stock is currently above its 5-day and 20-day moving averages, it remains below the 50-day, 100-day, and 200-day moving averages.
Additionally, the delivery volume on March 24 was recorded at 178,000 shares, a substantial increase of 260.38% compared to the 5-day average delivery volume, indicating rising investor participation. With a market capitalization of Rs 47,264 crore, IREDA continues to demonstrate liquidity suitable for trades around Rs 10.16 crore. Overall, the notable spurt in open interest underscores the active trading environment surrounding IREDA.
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