India's FDC hits 2-year high on proposal for share buyback

FDC

03/08/2023 09:22

** Shares of FDC  FDC.NS  rise as much as 10.32% to a
two-year high of 378.40 rupees
    ** Uptick after the pharmaceutical ingredients maker says it
will consider proposal for buyback of shares in its board
meeting on August 9
    ** FDC to also report its June-quarter earnings on August 9
    ** Stock most active in nearly two months with a trading
volume of 4.64 mln shares, 11x the 30-day avg - Refinitiv data
    ** Relative strength index rises above 70 on Thursday,
suggesting the stock may be overbought - Refinitiv data
    ** Stock up 36.90% in 2023 so far, including today's gains
compared to 7% rise in Nifty 50 index  .NSEI 

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