India's Venus Remedies up 4.6% on Saudi marketing approval for chemotherapy drug

Venus Remedies

01/06/2023 06:47

** Shares of research and pharmaceutical firm Venus Remedies
Ltd  VENR.NS  rise 4.6% to 249.35 rupees
    ** Stock on track to rise for third straight session, if
gains hold
    ** Co says it received marketing authorisation from Saudi
Arabia for chemotherapy drug Docetaxel used to treat various
types of cancer including breast, prostrate and stomach
    ** Stock's moving average convergence-divergence (MACD) line
is above signal line, suggesting bullish momentum
    ** Relative strength index (RSI) is above 70, indicating
stock is overbought
    ** Almost 115,000 shares change hands as of 11:00am IST,
1.8X the 30-day moving average
    ** Stock extends YTD gains, currently up 33.6% from last
year

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))