SRL informed that the credit rating agency has reaffirmed the company’s long-term issuer rating at CARE AA- with stable outlook and short-term issuer rating at CARE A1+. 

The shares of pharmaceutical company, Cipla Limited surged more than eight per cent on Friday after the company announced that it has successfully completed phase-3 of clinical end-point study for fluticasone propionate & salmeterol inhalation powder.

Cyient Limited announced that it has partnered with Hitachi Rail in order to accelerate the evolution of signalling technology as well as expand & enhance the latter’s project execution capacity.

Bank of Maharashtra announced that it will reduce its repo linked lending rate (RLLR) by 75 basis points from April 7, 2020.

New Fund Offers (NFOs) that are open for subscription.

Other gainers were Coal India, Sun Pharma, ONGC and RIL that closed higher by 12 per cent, 11 per cent, 7.7 per cent and 0.3 per cent, respectively.

Considering the weekly time frame, the stock of Astrazeneca Pharma India Limited bounced back from the edge of a rising trendline support that is formed by connecting the swing lows since December 2018, which coincides with long-term moving average, i.e. 100-week SMA level.

Considering the weekly time frame, the stock has formed a piercing line candlestick pattern. The piercing line candlestick pattern is considered to be a bullish reversal pattern and usually occurs at the bottom of a downtrend.

The share price of Lupin Ltd, an Indian pharmaceutical company, rose today after the company announced that it has received an EIR from USFDA for its Aurangabad facility.

Currently, the stock has formed three inside down candlestick pattern on the daily time frame. The three inside down pattern represents a confirmation of the bearish harami pattern, which indicates that the forecast is successful.