India's Generic Engineering hits over 1-yr high on fund raising plans

Generic Engineering Construction and Projects

11/01/2023 04:49

** Shares of construction co Generic Engineering
Construction and Projects  GENN.NS  rise as much as 19.95% to
51.70 rupees, highest level since October 2021
    ** Stock mark sharpest intraday pct gain since Oct. 4, 2021;
on track for a fourth consecutive session of gain
    ** Co on Tuesday said it will consider proposal to raise
funds by way of issue of securities to promoter and/or non
promoter 
    ** Share price is above the 50-day, 100-day and 200-day
exponential moving average, suggesting bullish trend
    ** GENN's relative strength index (RSI) is above 70,
indicating that it is overbought
    ** More than 1.7 mln shares change hands by 10:06 a.m. IST,
13.3x 30-day avg 
    ** Stock fell 15.25% in 2022
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))