India's Axita Cotton up ahead of board meeting to consider share buyback
23/05/2023 08:37
** Shares of Axita Cotton Ltd AXIA.NS up as much as 4.94%
to 28.7 rupees
** Co on track for second consecutive session of gains if
trends hold
** AXIA said in an exchange filing that it will consider
proposal for buyback of equity shares on May 23
** Co below its 50-, 100-, and 200-day exponential moving
averages since May 4, indicating bearish sentiment
** Co's RSI is below 30 since May 3, indicating a near-term
oversold trend
** About 1.99 million shares change hands as of 12:54 p.m.
IST, 0.3x 30-day average
** As of last close, stock down 45.1% this year but is up
50% since close of first trading day on June 21, 2022
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com;))