India's Nitin Spinners up on block deal; stock in overbought zone

Nitin Spinners

23/08/2023 09:19

** Shares of Nitin Spinners  NISP.NS  rise as much as 6.51%
to 285.80 rupees, an 18-month high
    ** About 185,682 shares of textile manufacturer traded in a
block at an average price of 280.50 rupees, as of 1:37 p.m. IST
- Refinitiv data
    ** Stock most active in over seven months since Jan. 6, with
a trading volume of 818,055 shares as of 1:42 p.m. IST, more
than five times the 30-day avg - Refinitiv data
    ** Relative strength index rises above 70, suggesting stock
may be overbought
    ** NISP up ~40% in 2023 so far, including today's gains

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