Aurobindo Pharma jumps 9% in four days
Mar 27, 2023 03:27 PM | Source: capitalmarket.com
Aurobindo Pharmaceuticals advanced 2.26% to Rs 511.50, extending gains for fourth trading sessions.
Shares of Aurobindo Pharmaceuticals jumped 9.02% in four trading session from its recent closing low of Rs 469.20 on 21 March 2023.
On the BSE, 1.34 lakh shares were traded in the counter so far compared with average daily volumes of 2.17 lakh shares in the past two weeks.
The stock hit a 52-week high of Rs 730 on 25 March 2022. The stock hit a 52-week low of Rs 397.30 on 3 February 2023.
The stock had outperformed the market over the past one month, rising 12.04% compared with 2.75% fall in the Sensex.
The scrip had outperformed the market in past three months, advancing 16.05% as against Sensex's 5.37% decline.
However, the counter had underperformed the market in past one year, sliding 28.63% as against Sensex's 0.51% jump.
On the technical front, the stock's daily RSI (relative strength index) stood at 70.668. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 200- day and 100-day simple moving average (SMA) placed at 452.46, 459.06 and 498.76, respectively. These levels will act as crucial support zones in near term.
Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.
The company's consolidated net profit declined 18.8% to Rs 491.26 crore despite of 6.7% rise in net sales to Rs 6,387.97 crore in Q3 FY23 over Q3 FY22.