India's Finolex Cables surges to over 4-1/2 year high

Finolex Cables

15/02/2023 08:03

** Shares of wires and cables maker Finolex Cables  FNXC.NS 
 rise as much as 6.4% to 636 rupees, highest since July 24, 2018
    ** FNXC extends gains to second session, after closing at
its highest level since Nov. 2021 on Tuesday
    ** Stock has jumped 12.1% over last two sessions at current
levels; trading above 50-, 100- and 200-day moving averages for
the last 5 sessions
    ** Relative Strength Index (RSI) seen above 70 for first
time since Nov. 2022, indicating it is overbought
    ** Moving Average Convergence Divergence (MACD) line above
signal line over last 5 sessions, indicating bullish bias
    ** Stock most active since Nov. 21, 2022; around 1.7 mln
shares traded by 1:28 p.m. IST, 8.5x the 30-day avg
    ** Six of the seven analysts rate stock 'buy' and one
'hold;' median TP is 691 rupees - Refinitiv data
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))