Amber Enterprises India rises after Singapore govt buys stake

Amber Enterprises India

28/08/2023 07:49

** Shares of Amber Enterprises India Ltd  AMBE.NS  rise as
much as 4.4% to 2,908 rupees, reversing two sessions of losses
    ** Govt. of Singapore buys 725,239 shares in co at 2,800
rupees apiece after Ascent Investment Holdings sells ~1.26 mln
shares at same price - NSE data      
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since May 25 in bullish trend
    * Relative strength index (RSI) above 70, indicating stock
is overbought
    ** Trading volume at ~454,100 shares, 1.3x the 30-day avg of
~276,800 shares as of 11:50 a.m. IST 
    ** Average rating of 13 analysts covering stock at
equivalent of 'buy;' median PT is 2,570 rupees - Refinitiv data
    ** Stock up ~53% this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))