Apollo Hospital rises for 2nd day, hits record high

Apollo Hospital Enterprises jumped 6.85% to Rs 1943.55, extending gains to second trading session.

Shares of healthcare provider gained 8.58% in two trading sessions from its previous closing low of Rs 1789.95 on 22 September 2020. The counter hit a record high of Rs 1974 in intraday today. The stock is up 85.56% from its 52-week low of Rs 1047.4 hit on 31 March 2020.

Meanwhile, the S&P BSE Sensex was down 1126.57 points or 2.99% at 36,541.85 while Nifty 50 slumped 329.45 points or 2.96% at 10,802.40.

On the technical front, Apollo Hospital's RSI (relative strength index) stood at 75.325. 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 1668 and 1513.81 respectively. These levels will act as crucial support zones in near term.

Apollo Hospitals Enterprise posted a consolidated net loss of Rs 226.24 crore in Q1 June 2020 compared with net profit of Rs 49.15 crore in Q1 June 2019. Consolidated net sales fell 15.6% to Rs 2,171.50 crore in Q1 June 2020 over Q1 June 2019.

Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.

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