Ajanta Pharma has a bleak day on D-street

Ajanta Pharma had a bad day on D-Street. It opened at Rs 1760.70, down by one per cent. The stock of the company had fallen by over four per cent on intra-day. The stock however made a smart recovery and closed at Rs 1712.50, down by 2.74 per cent.

A profit booking scenario was largely witnessed and is the major reason for the stock's decline. The stock traded with volumes of 8260, majorly on the sell side. Thirty day SMA stands at 1829.41, indicating bearishness in the stock. The stock is trading 55.07 per cent higher than its 52–week low.

On the other hand, the S&P BSE Healthcare index lost 200 points and closed at 14669.13. Gufic-Bio science ended with gains of 10.14 per cent as a largest gainer in the index.

The stock in the last three months, has fallen by 16 per cent. Moreover, the stock generally attracts more volumes and in the last one year the stock has given a return of 33 per cent. IT stocks and Pharma are amongst the many sectors that are under-valued at current levels.