Venus Remedies shares hit upper circuit of 5% as Company;

Early in the trading day on the BSE, Venus Remedies shares were trading at Rs 243.30, locked in the upper circuit of 5%.

The company specializes in creating a variety of medicinal formulations, such as antibiotics, oncology medications, and critical care medications. — *Shares of Venus Remedies are trading above the five, ten, twenty, one hundred, fifty, and two hundred day moving averages, but below the thirty and fifty day moving averages.*

Venus Remedies Ltd. stock increased 5% today after the pharmaceutical company announced it has signed up with the Department of Scientific and Industrial Research (DSIR) of the Union government.

Early in the trading day on the BSE, Venus Remedies shares were trading at Rs 243.30, locked in the upper circuit of 5%. Later, when investors booked profits, the Venus Remedies stock dropped to an intraday low of Rs 232.50 from its previous closing of Rs 231.75.

Technically speaking, Venus Remedies’ stock’s relative strength index (RSI) is 47.5, indicating that it is neither overbought nor oversold. Shares of Venus Remedies are trading above the 5 day, 10 day, 20 day, 100 day, 150 day, and 200 day moving averages but below the 30 and 50 day moving averages.

This exemption would not only enable us to lower production costs but also to increase our investment in R&D, boosting our competitiveness and broadening our market reach, according to Saransh Chaudhary, Venus Remedies’ chief of research.

The company recorded a decrease in operating revenue of 33.49 percent YoY (year over year), or Rs 95.15 crore. To Rs 1.18 crore, net profit fell 82.87 percent YoY in the first quarter.