JK Paper soared 9.03% to Rs 99.60 after the company said its board will meet on 28 April 2020 to consider a share buyback.
On the technical front, the stock's RSI (relative strength index) stood at 58.401. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at Rs 98.89 and below its 200-day moving average (DMA) placed at Rs 115.75.
JK Paper is a leading paper manufacturing company in India.
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