India's Natco Pharma rises most in over 5 mths after share buyback plan

Natco Pharma

03/03/2023 04:24

** Shares of Natco Pharma Ltd  NATP.NS  rise as much as 4.8%
to 579.9 rupees, biggest intraday pct. gain since Sept. 19
    ** Pharmaceutical firm said on Thursday it will consider a
proposal to buy back fully paid up shares in a board meeting on
March 8
    ** Stock's relative strength index at 68.9, surging towards
the overbought territory of 70 
    ** Stock trading above its 50- and 100-day moving averages
    ** Trading volume at ~306,600 shares, 1.6x the 30-day avg of
~193,200 shares as of 9:40 a.m. IST 
    ** Six of the 14 analysts covering the stock have a "buy" or
higher rating, six have "hold," while two rate it "sell;" median
PT is 618 rupees - Refinitiv data
    ** Stock was down about 38% last year 


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))