India's CESC hits near 2-year low

CESC

24/03/2023 06:28

** Shares of electricity generator and distributor CESC
 CESC.NS  fall as much as 0.66% to 67.50 rupees, lowest level
since May 28, 2021
    ** Stock on track to fall for a second consecutive session,
if losses hold
    ** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
    ** CESC's relative strength index below 30, indicating it is
oversold
    ** Stock's moving average convergence divergence (MACD) line
below the signal line since Feb. 27, indicating a bearish bias
    ** More than 451,000 shares change hands by 11:51 p.m. IST
vs 30-day avg of 2.5 mln shares
    ** 13 of the 14 analysts covering the stock have a "buy" or
"strong buy" rating while 1 has "hold"; median PT is 101 rupees
- Refinitiv data
    ** Stock down ~11.1% this year as of last close vs ~6.8 fall
in Nifty 500 index  .NIFTY500 


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))