Marico Limited has been continuously adding huge number of shares in the December series futures. Over the eight calendar days, the share has added 44,52,500 shares in the open interest. On December 10th, the stock was having 15,13,200 shares but as of yesterday it has 59,65,700 shares in the open interest. During the same period, the stock price is also steadily moving up, it has gained 30 rupees or over 7%.
Over the last two days, the stock had volume of over 14 million shares in the Nation Stock Exchange which is much higher than their usual trading level of below 500K shares. The future price is currently trading in discount of 19.70 rupees or 4.33%.
Meanwhile, Marico has fixed record date as December 24, 2015 to ascertain the members entitled to receive bonus equity shares of the company in the ratio of 1:1 i.e. one bonus share for every one share held in the company. The stock will turn ex-bonus on December 22, 2015, it added.
Marico’s raise in open interest by date:
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