India's MOIL jumps on rise in production; stock in overbought zone

Moil

02/05/2023 08:39

** Shares of MOIL Ltd  MOIL.NS  rise as much as 3.83% to
162.70 rupees, a three-month high
    ** The manganese ore miner posts 26% year-on-year rise in
April production, while April sales surge 72% YoY
    ** MOIL's relative strength index is 71, suggesting it may
be overbought
    ** Stock's trading vol as of 1:02 p.m. IST is nearly thrice
the 30-day avg
    ** MOIL rose 10% in April, its best monthly gain since July
2022, but is flat for the year

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