Technically, the stock trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Shares of pharma company Sudarshan Pharma Industries Ltd. are in focus as the company has expanded its global footprint with the incorporation of a new entity in Europe. The company has informed exchanges that it has incorporated a wholly owned subsidiary in Poland with the name of Sudarshan Pharma Poland Limited Liability Company, which will operate the Indian pharmaceutical company. Meanwhile, the shares of the company started the session flat at Rs 24.06 on the BSE. However, it later fell amid selling pressure to touch the low of Rs 23.61, a dip of 1.87 per cent from the previous close. Last seen, the scrip was trading at Rs 24 with a dip of 0.25 per cent. The market cap of the company stood at Rs 577.58 crore.
The stock has been losing for the last three days and has fallen 4.36 per cent in the period. Technically, the stock trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The stock has a 52-week high of Rs 53.50, hit on January 7, 2025. The counter’s 52-week low is Rs 22.33.
Primary business objectives
According to the company, the main objective of the newly incorporated subsidiary is the “manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms”
Other specified objects also include
- Pesticides, disinfectants, and other agrochemical products.
- Soap and detergents, along with washing and polishing preparations.
- Wholesale of pharmaceutical and medical products, and perfumes and cosmetics.
Share price history
According to BSE Analytics, the stock has delivered a multibagger return of 200 per cent in two years. However, it has corrected 40.62 per cent in one year as against the positive return of 5.38 per cent by the benchmark index.
Meanwhile, the equity benchmark indices Sensex and Nifty edged lower in early trade on Thursday, tracking a weak trend in global markets.
ALSO READ | New Year Bonanza! CNG, domestic PNG prices set to drop by up to Rs 3, here’s all you need to know
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
