Astrazeneca Pharma share rose over 5% in trade today after the UK government accepted recommendation from the Medicines and Healthcare Regulatory Agency (MHRA) to authorise Oxford University-AstraZeneca's Covid-19 vaccine, named Covishield, for emergency use. Astrazeneca Pharma stock touched an intraday high of Rs 4,770, rising 5.09% against previous close of Rs 4,539 on BSE.
The stock has gained 11.42% in the last five days. Astrazeneca Pharma share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Later, the share closed 2.56% or Rs 116 higher at Rs 4,655 against previous close of Rs 4,539 on BSE.
The pharma stock has gained 72.35% in one year and risen 77.47% since the beginning of this year.
Market cap of the firm rose to Rs 11,637 crore on BSE. The vaccine developed by the Oxford University has shown 70 per cent efficacy, which can rise to 90 per cent under certain conditions. In India, the vaccine is being manufactured by Serum Institute of India.
UK has already approved the Pfizer-BioNtech vaccine candidate in December, and started a vaccination drive in the country. Over 600,000 people in the UK have already been vaccinated since Pfizer vaccine got the mandatory approval. The government has ordered 100 million doses from AstraZeneca, which is more than enough to vaccine its 50 million people.