Pfizer jumped 4.82% to Rs 4,820, extending gains for second straight session.
Shares of Pfizer rallied 6.56% in two trading sessions from its recent closing low of Rs 4,523.05 on Thursday, 20 August 2020.
Meanwhile, the media reported that US-based Pfizer and German biotech firm BioNTech announced positive results for the Phase 1 trial of their second Covid-19 vaccine candidate, revealing that the latest vaccine candidate has fewer side effects than their first. According to reports, the reason was that the second vaccine seemed to generate a similar immune response, but fewer side effects. Pfizer reportedly said that some data from its large study of the B2 vaccine could come as early as October.
On the technical front, the stock's RSI (relative strength index) stood at 73.636. 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 4,253.44 and its 200-day moving average (DMA) placed at 4,187.54.
Pfizer's net profit rose 10.3% to Rs 124.45 crore on 5.4% fall in net sales to Rs 514.89 crore in Q1 June 2020 over Q1 June 2019.
More From This Section
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
Powered by Capital Market - Live News