Unichem Labs drops 22% in six days

Unichem Laboratories dropped 9.45% to Rs 333.90, extending losses for the sixth consecutive session.

Shares of Unichem Laboratories have fallen 21.67% in six sessions.

The stock hit a 52-week high of Rs 467 on 3 November 2022. The stock hit a 52-week low of Rs 226 on 26 May 2022.

The stock had underperformed the market over the past one month, falling 25.7% compared with 3.12% rise in the Sensex.

The scrip underperformed the market in past three months, sliding 2.13% as against Sensex's 6.09% rise.

The scrip, however, outperformed the market in past one year, rising 31.02% as against Sensex's 8.94% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 28.87. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 398.60 and 354.62, respectively. It was still above its 200-SMA placed at 304.09.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several markets across the world.

On a consolidated basis, Unichem Laboratories reported net loss of Rs 70.67 crore in Q2 September 2022 as against net loss of Rs 12.82 crore in Q2 September 2021. Net sales rose 13.13% YoY to Rs 328.82 crore in Q2 September 2022.

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