The Alembic Pharma stock trades above its 100 days simple moving average placed at 538.42 which will act as a crucial support in near term.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. Alembic has a cumulative total of 110 Abbreviated New Drug Application (ANDA) approvals (97 final approvals and 13 tentative approvals) from USFDA.
On a consolidated basis, the drug maker's net profit rose 23.1% to Rs 246.27 crore on a 10.1% rise in the net sales to Rs 1240.87 crore in Q2 September 2019 over Q2 September 2018.