India's Usha Martin hits record peak on 19-year high volumes

Usha Martin

11/10/2024 08:47

** Shares of Usha Martin  USBL.NS  rise as much as 18.2% to
a record high of 433.80 rupees
    ** Overall, 28.8 mln shares of the wire rope manufacturer
traded, 31.5X 30-day avg; their highest volumes in over 19 years
    ** About 245,420 shares traded in a block deal at an 8.7%
premium to Thursday's close - LSEG data
    ** Reuters could not immediately ascertain the reason behind
day's move
    ** Relative strength index rises to 72.4, suggesting stock
might be overbought
    ** USBL stock up ~44% YTD, of which ~21% gains were
registered this week

    

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))