Panacea Biotec Hits Upper Circuit Limit Amidst Broader Market Decline

Panacea Biotec Ltd, a small-cap player in the Pharmaceuticals & Drugs industry, has shown remarkable activity today, hitting its upper circuit limit. The stock reached an intraday high of Rs 463.3, reflecting a notable increase of 5% from its previous close, with an absolute change of Rs 22.05. This performance outpaced the sector, which recorded a 1D return of -1.09%.
The total traded volume for Panacea Biotec today was approximately 0.80923 lakh shares, resulting in a turnover of Rs 3.70 crore. The stock has been on a positive trajectory, gaining for the last two days and achieving a cumulative return of 5.33% during this period. Additionally, Panacea Biotec is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong performance relative to these benchmarks.

Despite a slight decline in delivery volume, the stock remains liquid enough for trading, with a delivery volume of 99.29k shares noted on March 28. Overall, Panacea Biotec's performance today underscores its resilience in a challenging market environment.