Astrazeneca Pharma India slumped 6.52% to Rs 2853 after net profit declined 2.4% to Rs 9.58 crore on 2.4% increase in net sales to Rs 194.90 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax stood at Rs 13.35 crore in Q4 March 2020, rising 57.6% year on year from Rs 8.47 crore in Q4 March 2019. The result was announced after market hours yesterday, 18 May 2020.
On the technical front, the stock's RSI (relative strength index) stood at 49.27. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock trades above its 50 days and 200 days simple moving average placed at 2627.30 and 2450.36 respectively. These levels will act as support zones in near term.
AstraZeneca Pharma India 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.
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