Uniparts India hits record high on positive analyst valuation

Uniparts India

22/02/2023 05:25

** Shares of Uniparts India  UNPA.NS  up as much as 5.94% at
612.3 rupees, their record high
    ** Co reports highest intraday pct gain since Feb. 15, on
track for second consecutive session of gains if trends hold
    ** Analysts at JM Financial Institutional Securities
initiate coverage on co with a "buy" rating and PT of 780 rupees
    ** "The current valuation of co has high margin of safety
and largely factors in any downside risk; we believe it deserves
a higher valuation" - JM Financial
    ** UNPA trades above its 50-day simple moving average,
indicating bullish sentiment
    ** Its Relative Strength Index inches upwards, indicating
that it is likely to be overbought
    ** More than 734,550 shares change hands, as of 10:11 a.m.
IST, 6.1 x 30-day average
    ** Stock gained 0.4% YTD up to last close, and has gained
7.1% since debut on Dec. 12   
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))