Stock Splits, Bonus Issues: Below Rs 75, Pharma Penny Stock That Was 2023 Big Winner, Falls By 30% YTD

Pharmaceutical company, Remedium Lifecare was a banger penny stock of 2023 with mind-boggling four-digit returns in percentage terms. However, the tide has reversed in Remedium in 2024. YTD, the stock is down by 30%. In the trading week from June 10-14, the stock falls by 13%.

However, Remedium is unstoppable when it comes to bonus issues and stock splits. From July 2023 to date, the company has rewarded 1 massive bonus issue of a 9:5 ratio, and split twice in the ratio of 1:2 and 1:5. There are more rewards ahead as Remedium will distribute free bonus shares in a ratio of 3:1 soon.

Remedium share price ended at Rs 70.19 apiece, flat on BSE with a market cap of Rs 707.52 crore. In the trading hours of June 14, the stock even nosedived to hit a new 52-week low of Rs 69.99 apiece.

The stock has more than halved from its 52-week high of Rs 179.66 apiece. Overall, this week, Remedium shares are down by a little over 13%.YTD, the stock dived by 29.66%. This has erased its 2023 gains as well and the stock is now down by 34% in 1-year. Nonetheless, Remedium is still a multi-bagger when it comes to long-term gains.

Remedium's all-time gain is a whopping 15,498%. The stock was merely at Rs 0.45 apiece on May 25, 2018.

Remedium has a fixed Record date of Saturday, 06th July 2024 to determine the number of shareholders
entitled to Bonus Equity shares in the ratio of3:1 (i.e., Three Equity Shares of Re. 1/- each fully paid up for every One Equity Share of Re. 11- each fully paid up held as on the record date decided for this purpose).

Earlier, Remedium also rewarded investors with bonus shares in the ratio of 9:5. Accordingly, the Company issued the company nine bonus equity shares having a face value of Rs 10 each against every existing five equity shares having a face value of Rs 5 per share. The ex-bonus date was on July 28, 2023.

Meanwhile, the stock has split twice in less than a year. Before the 3:1 bonus, Remedium turned ex-split in the ratio of 1:5 on February 23, 2024. The sub-division was of 1 existing equity share having a face value of Rs 5 each to 5 equity shares with a face value of Rs 1 each.

Before that, Remedium shares turned ex-split on September 1, 2023, for a shares sub-division to the tune of 1:2. The company's stock split in the ratio of 1:2 meant that --- one existing equity share having a face value of Rs 10 each -- was sub-divided into two equity shares having a face value of Rs 5 each.