India's Emkay Global up 18% on getting SEBI nod for sponsoring mutual fund

Emkay Global Financial Services

20/04/2023 05:22

** Shares of Emkay Global Financial Services  EMKS.NS  rise
as much as 18.18% to 79 rupees, mark sharpest intraday pct gain
since Aug. 11, 2022
    ** Shares hit highest level since Jan. 2, 2023
    ** Co on Wednesday said it has got in-principle approval
from Indian market regulator, Securities and Exchange Board of
India's (SEBI) investment management department for sponsoring a
mutual fund
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** EMKS's relative strength index above 70, indicating it is
overbought 
    ** Stock sees most active trading session in seven months
    ** More than 184,000 shares change hands by 9:38 a.m. IST,
9.2x 30-day avg of 19,975 shares
    ** Stock down 14.24% YTD, as of last close


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))