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Aarti Drugs corrects 14% in two days

Capital Market 

Aarti Drugs hit a lower circuit of 10% at Rs 2936.90, extending its losing streak to second trading session.

Shares of Aarti Drugs have lost 14.5% in two trading days from its previous closing high of Rs 3,435 on 24 August 2020.

The counter witnessed profit booking after its recent rally. In last one month, the stock has rallied 85% compared with 2.48% rise in benchmark BSE Sensex.

The stock has soared 595.5% from its 52-week low of Rs 422.25 on 19 March 2020. The counter hit an all time high of Rs 3,724.50 on Tuesday (25 August).

On the technical front, the stock's RSI (relative strength index) stood at 67.40. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages placed at 1753.78, 1278.27 and 924.58 respectively.

Aarti Drugs is a pharmaceutical company. The company has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, August 26 2020. 15:36 IST