Cheviot Company jumped 4.70% to Rs 688 after the company said its board will consider share buyback on Tuesday, 8 September 2020.
Cheviot Company is engaged in the manufacturing and sale of jute goods. It owns Cheviot Jute Mills in West Bengal. The company manufactures jute products and jute fabrics to cater to both domestic and international market.
On the technical front, the stock's RSI (relative strength index) stood at 68.566. 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 595.78 and its 200-day moving average (DMA) placed at 660.67.
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