India's Prime Focus jumps to 5-year high on deal to sell technologies arm

Prime Focus

17/04/2023 10:14

** Shares of Prime Focus  PRFO.NS  rise as much as 7.75% to
110.50 rupees, highest in over five years
    ** Stock climbs after global visual entertainment services
firm DNEG enters into a deal to acquire co's technologies arm
    ** The relative strength index of PRFO is 83, suggesting the
stock is overbought
    ** Stock's trade volume at around ~952,000 shares as of 2:33
p.m. IST, more than 4x the 30-day avg - Refinitiv data
    ** The MACD (moving average convergence divergence) line is
above the signal line since April 10, suggesting bullish bias

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