EClerx Services Shares Jump 7% After Q2 Profit, Revenue Beat Estimates

Shares of the company rose as much as 6.8%, the most since Oct.13, before paring gains to trade 4% higher at 11.29 a.m. This compares to a 0.1% fall in the Nifty 50.

The stock has risen 67% on a year-to-date basis. Total traded volume so far in the day stood at 5.2 times its 30-day average. The relative strength index was at 65.58.

Of the nine analysts tracking the company, eight maintain a ‘buy’ rating, and one recommends a ‘hold’, according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.7%.

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