India's Bikaji Foods logs biggest intraday gain ever; stock in overbought zone

Bikaji Foods International

19/04/2023 08:33

** Shares of Bikaji Foods  BIKA.NS  rise as much as 10%,
biggest intraday pct gain on record, to 395.70 rupees
    ** Stock hits highest level since Feb. 1, the day of the
union budget
    ** Stock is most active since Dec. 30, with volume of 1.47
mln shares as of 12:46 p.m. IST, 11 times the 30-day avg of
133,487 shares
    ** Relative strength index of the stock is 71, suggesting it
may be overbought - Refinitiv data
    ** The MACD (moving average convergence divergence) line has
been above the signal line since March 23, suggesting bullish
bias
    ** Stock has risen over the last five sessions, adding over
10% in the period




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