India's Neuland Laboratories hits record high on Q1 profit jump

Neuland Laboratories

04/08/2023 07:53

** Shares of Neuland Laboratories  NEUL.NS  rise as much as
6.3% to a record high of 3,778.9 rupees
    ** Pharmaceutical firm on Thursday reported over-6x YoY jump
in Q1 consolidated profit; rev from ops up 64%
    ** Stock trading above its 50-, 100-, and 200-day
exponential moving averages since March 3, indicating bullish
momentum
    ** Relative strength index (RSI) climbs above 70 in the
session, indicating stock is overbought
    ** Trading volume at ~93,200 shares, 2x the 30-day avg as of
12:00 p.m. IST
    ** Stock more than doubled so far this year

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))