India's Equitas Small Finance Bank hits 1-1/2-year high

Equitas Small Finance Bank

02/03/2023 05:28

** Shares of private lender Equitas Small Finance Bank Ltd
 EQUI.NS  up as much as 2.9% at 74.80 rupees, their highest
since July 12, 2021
    ** Stock posts biggest intraday pct gain since Feb. 28
    ** EQUI on track to rise for fourth consecutive session, if
gains hold
    ** Stock trading above its 50-day (58.54), 100-day (55.66)
and 200-day (50.02) simple moving avgs since Feb. 10
    ** The moving average convergence and divergence (MACD) line
for Equitas above the signal line since Feb. 9, indicating
bullish momentum
    ** EQUI's relative strength index (RSI) seen above 70,
suggesting that stock is overbought 
    ** Over 2.4 mln shares change hands by 10:39 a.m. IST, 0.5x
the 30-day moving avg
    ** All 14 analysts covering the stock rate it "buy" or
higher with a median PT of 73 rupees - Refinitiv data
    ** As of last close, stock up about 25% so far this year,
reversing a 1.9% fall in 2022


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))