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Suven Pharma stock can surge up to 19% from here; check key levels

Technical charts suggest that Suven Pharma may trade with a positive bias in the near-term, provided the stock manages to hold above these key support levels.

pharmaceutical sector, pharma sector, medicines, meds
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Photo: Bloomberg

Rex Cano Mumbai

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Suven Pharma stock has under-performed both its benchmark NSE Smallcap index and the sectoral Nifty Pharma index so far this year. The stock has shed 13.5 per cent as against a rally of 8 per cent on the SmallCap index and a 10.5 per cent gain on the Nifty Pharma.

The stock has underperformed owing to sub-par earnings in the December quarter. Suven Pharma company posted a profit of Rs 5.24 crore for the December 2023 quarter, down 52.1 per cent when compared with a profit of Rs 10.95 crore in the corresponding quarter a year ago. Total income declined

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First Published: Apr 15 2024 | 2:22 PM IST

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