Hikal fell 2.27% to Rs 513.10, extending losses for the third day.
The stock has lost 7.09% in three sessions, from its recent high of Rs 552.25 recorded on 5 July 2021.
On a year-to-date (YTD) basis, the stock has zoomed 208.89% while the benchmark Sensex has added 10.01% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 61.237. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 421.68, 294.75 and 233.94, respectively.
Hikal is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharmaceutical ingredients (APIs) and contract research activities.
The company's consolidated net profit surged 108.1% to Rs 50.92 crore in Q4 FY21 as against Rs 24.47 crore in Q4 FY20. Total revenue from operations increased by 40.5% year-on-year (YoY) to Rs 532.46 crore during the quarter.
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