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Shares of Glaxosmithkline Pharmaceuticals have surged 11.1% in six trading sessions from its previous closing low of Rs 1671.90 posted on 1 December 2021. The counter hit a 52-week high of Rs 1,883.50 on BSE today. The stock has zoomed 34.76% from its 52-week low of Rs 1379 recorded on 25 March 2021. Previously, the stock hit a record high of Rs 1,925 on 31 March 2016.
In last one month, the stock moved 14.8% higher as compared to a 3.39% fall in Nifty 50 index.
On the technical front, the stock's RSI (relative strength index) stood at 71.472. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 1585.59 and 1579.84 respectively. These levels will act as crucial support zones in near term.
GSK Pharma is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies.
The company reported a 76% rise in standalone net profit to Rs 202.65 crore on a 12.8% increase in net sales to Rs 991.53 crore in Q2 FY22 over Q2 FY21.
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