GSK Pharma hits 52-week high; rises 11% in three days

Glaxosmithkline Pharmaceuticals jumped 10.17% to Rs 1,780.3, rising for third trading session.

Shares of Glaxosmithkline Pharmaceuticals have surged 11.4% in three trading sessions from its previous closing low of Rs 1596.90 posted on 22 November 2021. The counter hit a 52-week high of Rs 1,824.65 in intraday today. The stock has increased 29% from its 52-week low of Rs 1379 recorded on 25 March 2021.

On the technical front, the stock's RSI (relative strength index) stood at 69.997. 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 1541.48 and 1556.48 respectively. These levels will act as crucial support zones in near term.

GSK Pharma is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies. The company reported a 76% rise in standalone net profit to Rs 202.65 crore on a 12.8% increase in net sales to Rs 991.53 crore in Q2 FY22 over Q2 FY21.

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