India's CMS Infosystems climbs after mutual funds pick shares

Cms Info Systems

12/06/2023 06:21

** Shares of CMS Info Systems Ltd  CMSN.NS  rise as much as
6.3% to 326.8 rupees, biggest intraday pct gain since May 11
    ** Funds such as SBI Mutual Fund, IIFL Mutual Fund, and Abu
Dhabi Investment Authority bought shares in CMSN after promoters
sold 13.75% stake on Friday - NSE data
    ** Stock trading above its 50-, 100-, and 200-day moving
averages
    ** Trading volume at ~3.3 mln shares, 2.7x the 30-day avg of
~1.2 mln shares as of 10:30 a.m. IST 
    ** Average rating of five analysts covering stock equivalent
of 'buy'; median PT is 420 rupees - Refinitiv data
    ** Stock last up ~5% so far this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))