Hikal surges to 7-month high; stock shows bullish momentum

Hikal

07/12/2022 10:01

** Shares of Hikal Ltd  HIKA.NS  climb 11.84% to 392.90
rupees, a seven-month high
    ** Over 6.18 mln shares of the chemicals and pharmaceuticals
manufacturing firm change hands as of 03:20 p.m. IST, 31x the
30-day avg
    ** Stock on course to extend gains for fifth day
    ** Shares are above 50-day exponential moving average
(362.87 rupees) and 200-day exponential moving average (336.84
rupees), suggesting a bullish momentum - Refinitiv data
    ** The Moving Average Convergence Divergence (MACD) line
trades above the signal line, suggesting a bullish trend -
Refinitiv data     
    ** The relative strength index is at 71, suggesting the
stock may be overbought
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))