Refile: BUZZ-India's Redington hits all-time high

Redington

12/12/2022 08:06

(Corrects to "relative strength" from "GDFR" in second bullet)
    ** Shares of Apple reseller Redington Ltd  REDI.NS  rise as
much as 5.9% to a record high of 199.70 rupees    
    ** REDI's relative strength index (RSI) above 70, indicating
that it is overbought
    ** Shares trading above 50- and 200-day moving average since
reporting rise in Q2 profit on Nov. 2, indicating bullish
sentiment
    ** Moving Average Convergence Divergence (MACD) line also
above signal line since Nov. 2, indicating bullish bias
    ** Shares have hit multiple record highs since Nov. 25,
including last four sessions
    ** No immediate trigger for the news apparent or disclosed
by the company as yet
    ** Over 7.1 mln shares change hands by 01:33 p.m. IST vs
30-day avg of ~6.3 mln shares
    ** All eight analysts covering the stock have a "Buy" or
"strong buy" rating; median PT is 205 rupees - Refinitiv data
    ** Stock up 30.2% this year as of last close, gaining 37.4%
alone in the last 27 sessions
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))