The shares of Dhanlaxmi Bank Ltd. rose 17.96% in trade as of 2:49 pm after 2.2% of equity changed hands in three bunches on Tuesday. The stock hit a 52-week high of Rs 24.7 during the day.
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The scrip rose the most in seven months since May 17, 2022. The stock traded at 13.3 times its 30-day average. The relative strength index at 85 implies that the stock might be overbought.
Out of the 16 analysts tracking the company, 12 maintain a ‘buy’ rating, three suggest ‘hold’ and one analyst recommended to ‘sell’ the stock.
