Morepen Laboratories Surges 7.28%, Outperforms Sector and Sensex in Stock Market

Sep 09 2024 11:45 AM IST
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Morepen Laboratories, a midcap pharmaceutical company, has seen a surge in its stock price, gaining 7.28% on September 9th and closing at Rs 95.4. The stock is currently trading close to its 52-week high and has outperformed the sector by 6.65%. Despite high volatility, it has maintained its position above key moving averages, making it a promising stock for investors.


Morepen Laboratories, a midcap pharmaceutical company, has been making headlines in the stock market with its recent surge in stock price. On September 9th, the company's stock gained 7.28%, closing at Rs 95.4. This positive performance has caught the attention of investors and market experts, with MarketsMOJO giving a 'Buy' call for the stock.

The stock is currently trading close to its 52-week high of Rs 96.6, showing a strong upward trend. Morepen Laboratories has also outperformed the pharmaceutical and drugs sector by 6.65% today, indicating a strong market sentiment towards the company.

The stock has shown high volatility today, with an intraday volatility of 6.26%. However, it has managed to maintain its position above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which is a positive sign for investors.

In comparison to the Sensex, Morepen Laboratories has outperformed with a 1-day performance of 7.29% against the Sensex's 0.18%. The company has also shown a strong 1-month performance of 64.89%, while the Sensex has only seen a 2.03% increase.

With its consistent positive performance and strong market sentiment, Morepen Laboratories is definitely a stock to watch out for in the pharmaceutical and drugs industry. Investors can consider adding this midcap company to their portfolio for potential growth and returns.
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