India's Bharat Dynamics hits record high; stock in overbought zone

Bharat Dynamics

06/06/2023 10:03

** Shares of Bharat Dynamics Ltd  BARA.NS  rise as much as
3.77% to a fresh record high of 1,191.10 rupees
    ** Rise after 382,144 shares of the defence equipment maker
change hands in a block, as of 2:30 p.m. IST, at 1,181.85 rupees
apiece
    ** The relative strength index of BARA is 75, suggesting the
stock may be overbought - Refinitiv data
    ** The moving average convergence divergence (MACD) line has
been above the signal line since May 31, suggesting bullish
momentum
    ** Trading volume is 1.49 mln shares as of 2:26 p.m. IST,
2.5 times the 30-day avg 
    ** Of the six analysts tracking BARA, four have "buy" rating
and two "sell;" median TP is 1,215 rupees
    
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))