Piramal Pharma Sees 12.33% Surge in Open Interest Amid Increased Trading Activity

Piramal Pharma Ltd, a small-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 11,026 contracts, reflecting a rise of 1,210 contracts or 12.33% from the previous open interest of 9,816. This surge in open interest coincides with a trading volume of 8,228 contracts, indicating heightened activity in the derivatives market.

In terms of price performance, Piramal Pharma outperformed its sector with a 1D return of 4.21%, compared to the sector’s 1.19% and the Sensex’s 0.63%. The stock reached an intraday high of Rs 199.2, marking a 4.21% increase for the day. While the stock is currently trading above its 5-day and 50-day moving averages, it remains below the 20-day, 100-day, and 200-day moving averages.

Despite a decline in delivery volume, which fell by 49.44% against the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 1.54 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock’s performance today highlight significant market activity for Piramal Pharma.