On Thursday, Indian stocks experienced a decline, driven by IT stocks, in response to the Federal Reserve's continued efforts to combat inflation, despite signalling a potential pause in interest rate hikes.

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Sudarshan Pharma Industries Limited became the 426th company to get listed on the BSE SME Platform on March 22, 2023 after successfully completing its public issue on March 14th.

The domestic benchmark indices started the day on a weak note. 

At the pre-opening bell, the frontline index S&P BSE Sensex opened in red with a loss of 83.34 points or 0.14 per cent.

Moreover, the stock is trading above its key moving averages like 20, 50, and 200-DMA. At the same time, the daily RSI has moved above the 60 mark and is in a rising trajectory, validating a positive bias. The daily MACD is pointing northward while sustaining above its nine periods average, thus validating a positive bias in the stock.

On Wednesday, the Sensex gained by 139 points to close at 58,214.59, while the Nifty 50 jumped by 44.50 points to close at 17,151.90

The firm has a market cap of Rs 1,162 crore with a low PE of 11.04x.

 Shares of the company have gained more than 7 per cent in today’s trade.   

The stock is up by 47.64 per cent in the last 1 year and over 207 per cent in the last 3 years.