Shares of Indegene Ltd rose 2 per cent in Friday’s trade after the company announced the expansion of its India footprint with the opening of a new center in Pune.
Indegene shares jumped 2 per cent to touch the day’s high of Rs 554.35 apiece on the BSE, over its previous close of Rs 542.95. At 12:46 pm, the stock was trading 1.57 per cent higher at Rs 551.45 apiece, while the company’s market capitalisation stood at Rs 13,242 crore. The scrip is nearly 14 per cent above its 52-week low of Rs 485.15.
In a stock exchange filing, the digital-first life sciences commercialisation company said it has inaugurated a new facility in Pune to tap into the city’s strong base of technology, management, and medical talent.
“By leveraging the city’s highly skilled technology, management, and medical talent base, the company is enhancing its ability to help clients accelerate innovation, scale global operations, and deliver improved healthcare outcomes for patients worldwide,” Indegene said in an exchange filing.
Indegene added that they work with the world’s top biopharma companies along with several biotech and medical device firms and employ about 5,000 people globally across nine operations hubs and 20 offices in North America, Europe, and Asia.
Among technical indicators, the stock is trading above its 5-day simple moving averages (SMAs) but below 10-, 20-, 30-, 50-, 100-, 150- and 200-day SMAs. The stock had a beta of 0.8 in the last one year, indicating low volatility during the period.
The relative strength index (RSI) stood at 38.6, placing it in the mid-range, while the money flow index (MFI) was at 43.3, also indicating mid-range levels.
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