India's ZF Commercial climbs after unit commences commercial production

ZF Commercial Vehicle Control Systems India

06/03/2023 08:06

** Shares of ZF Commercial Vehicle Control Systems India
 ZFCV.NS  up as much as 4.71% to 10,779 rupees, highest in
nearly five months since October 13, 2022
    ** Co reports sharpest intraday pct gain since Oct. 31
    ** Air brake actuation systems manufacturer says its unit ZF
CV Control Systems Manufacturing India has commenced commercial
production
    ** ZFCV is trading above its 50-, 100-, and 200-day simple
moving averages, indicating bullish sentiment
    ** More than 21,000 shares change hands, as of 1:15 p.m.
IST, five times the 30-day avg - Refinitiv data
    ** Average rating of five brokerages close to equivalent of
'buy' with median PT of 10,985 rupees - Refinitiv data
    ** Stock up 14.78% YTD as of last close, extending two years
of gain

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))