Morepen Laboratories Limited (MOREPENLAB) is New Delhi based Indian pharmaceutical company established in 1984 and went public in 1993. Morepen manufactures and sells Active Pharmaceutical Ingredients (APIs), Diagnostics and Over-the-counter (OTC) drugs. Morepen has 3 manufacturing facilities and its major export markets are US and Europe.
Technically Morepen was very week for past few months but now a strong trend is starting in MOREPENLAB as per both Macd and Adx.
Both in daily and weekly chart stock crossed 200 dma so more upside possible in the coming days/weeks.
June 2019 quarter result also was inline with expectations in both standalone and consolidated.