India's Jyothy Labs hits record high on block deal amid post-earnings surge

Jyothy Labs

04/08/2023 06:59

** Shares of Jyothy Labs  JYOI.NS  surge as much as 9.41% to
a record high of 332 rupees
    ** About 1.2 mln shares of the FMCG company traded in a
block deal at avg of 322.85 rupees apiece as of 11:22 a.m. IST -
Refinitiv data
    ** Stock has jumped 35% in nine sessions since reporting
June-qtr earnings
    ** JYOI up ~58% in 2023 so far, vs an 18% rise in FMCG index
 .NIFTYFMCG 
    ** JYOI's RSI has been above 70 since it reported results,
suggesting the stock may be overbought
    ** The median TP of the 9 analysts tracking JYOI is 320
rupees - Refinitiv data

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