India's Gujarat Industries surges to 52-week high; stock in overbought zone

Gujarat Industries Power

08/05/2023 10:54

** Shares of Gujarat Industries Power Co Ltd  GJIP.NS  rise
as much as 7.34% to 97.20 rupees, a 52-week high
    ** Co issues letter of intent to Godrej & Boyce
Manufacturing for 1,200 Megawatt pooling sub-station in Gujarat
    ** Stock's RSI above 75, indicating it may be overbought
    ** Stock's MACD line above the signal line since March 31,
suggesting bullish momentum - Refinitiv data
    ** Trading volume is 2.03 mln shares as of 3:06 p.m. IST,
more than twice the 30-day avg - Refinitiv data
    ** Including session's gains, stock up 15.3% YTD

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