Tata Communications Sees Significant Rise in Open Interest Amid Increased Trading Activity

Tata Communications Ltd, a prominent player in the telecommunication service provider sector, has experienced a significant increase in open interest today. The latest open interest stands at 41,448 contracts, reflecting a rise of 3,953 contracts or 10.54% from the previous open interest of 37,495. This uptick comes alongside a trading volume of 83,631 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Tata Communications opened the day with a gain of 3.21%, reaching an intraday high of Rs 1,655.3, which represents a 3.54% increase. However, the stock has underperformed its sector by 1.64% and has seen a decline of 1.08% in its one-day return. Notably, the stock has fallen after two consecutive days of gains, suggesting a potential trend reversal.

The stock's liquidity remains strong, with a delivery volume of 182,000 shares on April 22, marking a 2.27% increase compared to the five-day average. Tata Communications maintains a market capitalization of Rs 45,646 crore, positioning it firmly within the large-cap category. Overall, the notable rise in open interest highlights increased trading activity, reflecting the current dynamics in the market.