Cipla added 2.24% to Rs 1,008.95, extending its winning run to fifth consecutive trading session.
Shares of Cipla have surged 8.26% in five trading sessions from its previous closing low of Rs 932 posted on 4 March 2022. The counter hit a record high of Rs 1,011.35 in intraday today. The stock has zoomed nearly 37% from its 52-week low of Rs 738.25 recorded on 19 March 2021.In last one month, the stock has moved nearly 5.3% higher outperforming the Nifty 50 index which fell 4.39% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 68.562. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 930.35 and 919.57 respectively. These levels will act as crucial support zones in near term.
Cipla is a global pharmaceutical company focused in India, South Africa, North America, and key regulated and emerging markets. Its strengths lies in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments.
The drug company reported a 2.6% decline in consolidated net profit to Rs 729 crore in Q3 FY22 from Rs 748 crore posted in Q3 FY21. Total revenue from operations grew by 6% year on year to Rs 5,479 crore in Q3 FY22 over Q3 FY21.
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