FDC Ltd is a leading fully integrated pharmaceutical company. The fundamental update of the business is available under stock opportunities, topic – FDC Ltd.
Technically the stock price hit an All time high in the month of Aug 2023 (swing high), its previous high was two years ago in the month of June 2021.
After hitting all time high in the month of Aug 2023 the stock price is consolidating as the company had announced a buy back at 500 rs per share. The Q2 results which were decent if one compares Y-O-Y. Recently the stock price has moved up after consolidation and formed a handle to the cup. The base of the cup was about 240 to 250 and the top was 405 to 410. If the stock continues its upward journey the target can be 550 to 560 rs.
Disclosure : Invested as a technical bet (not a recommendation, anyone contemplating investing needs to do their own diligence).
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