Suven Pharmaceuticals declined 4.11% to Rs 280.05 after the company said a fire incident occurred on 26 April 2020 at Jeedimetla facility in Hyderabad.
Suven Pharmaceuticals said the labs in one of the building was damaged, but there were no injuries or casualties. The company said it is investigating the exact cause of incident. The facility is still operational other than that building where fire occured, it added. The announcement was made during trading hours today, 27 April 2020.On the technical front, the stock's RSI (relative strength index) stood at 45.844. 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) and 200-day moving average (DMA) placed at Rs 162.23 and Rs 40.56 respectively.
Suven Pharmaceuticals is engaged in the pharmaceuticals & drugs sector.
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