India's TV18 Broadcast up 8% after brokerage projects further rise

TV18 Broadcast

23/05/2023 10:26

** Shares of TV18 Broadcast Ltd  TVEB.NS  rise as much as
8.16% to 33.15 rupees, a one-week high
    ** Rise after domestic brokerage firm Prabhudas Lilladher
reiterates "buy" and predicts stock to rise in the near term
    ** "Stock bottomed out near 27 rupees zone and is gradually
picking up with rising momentum," says Vaishali Parekh, vice
president for technical research at Prabhudas Lilladher
    ** Anticipate further rise in coming days with relative
strength index also showing a reversal, adds Parekh
    ** Brokerage sets a near-term target of 37 rupees with
support at near 27 rupees 
    ** Trading volume is 12.27 mln shares as of 2:48 p.m. IST,
nearly twice the 30-day avg - Refinitiv data


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