AstraZeneca Pharma India hits 52-week low

AstraZeneca Pharma India declined 0.58% to Rs 2684, extending its losing run to seventh consecutive trading session.

Shares of AstraZeneca Pharma have declined nearly 5% in seven trading sessions from its previous closing high of Rs 2824.95 posted on 9 February 2022. The counter has fallen nearly 41% from its 52-week high of Rs 4580 hit on 23 April 2021. The stock hit a 52-week low of Rs 2,666 in intraday today.

In one month, the stock has fallen 10.64% as compared to a 4.2% fall in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 26.784. 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 2943.58 and 3011.12 respectively. These levels will act as crucial support zones in near term.

AstraZeneca Pharma India is a global biopharmaceutical company. The company is engaged in the discovery, development and commercialization of medicines for core areas of healthcare, including cardiovascular/metabolic disease, cancer and respiratory, inflammatory and autoimmune disease.

The company posted a 45.7% fall in net profit to Rs 11.42 crore in Q3 FY22 from Rs 21.05 crore posted in Q3 FY21. Net sales grew by marginal 0.1% year on year to Rs 200.53 crore in Q3 FY22 as compared to Rs 200.25 crore posted in Q3 FY21.

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