Hikal tanks 11% in four days

11 Jan 2022 , 12:35 PM

Shares of Hikal have corrected 10.82% in four consecutive sessions.

In the past one year, the stock has surged 193.93% while the benchmark Sensex has added 22.84% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 28.34. 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 below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 550.31, 535.26 and 527.18, respectively.

On a consolidated basis, Hikals net profit surged 63.48% to Rs 44.06 crore on 26.64% increase in net sales to Rs 463.96 crore in Q2 September 2021 over Q2 September 2020.

Hikal is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharmaceutical ingredients (APIs) and contract research activities.

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