India's CG Power hits 3-mth high on block deal; stock in overbought zone

CG Power and Industrial Solutions

12/05/2023 09:42

** Shares of CG Power and Industrial Solutions Ltd  CGPO.NS 
rise nearly 2% to 333 rupees, highest in nearly three months
    ** Uptick after 1.5 mln shares of utilities firm change
hands in a block as of 2:08 p.m. IST, at a price of 324.55
rupees per share
    ** Stock most active in two months, with a trading volume of
3.3 mln shares, twice the 30-day avg - Refinitiv data
    ** The relative strength index of the stock is 75,
suggesting it may be overbought
    
    


($1 = 81.7800 Indian rupees)

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