1:5 Stock Split, 9:5 Bonus Shares: Pharma Stock Hits 10% Upper Circuit On Acquisition News

Small cap pharmaceuticals sector company Remedium Lifecare Ltd shares hit 10% upper circuit in trade today. Last trading price of Remedium Lifecare stock on BSE is Rs 124.60 apiece with intraday gain of 7.69%. Remedium Lifecare has a market capitalisation of Rs 1255.97 crore. Remedium Lifecare shares gained 35% in last 1-month and zoomed 2422% in last 1-year. Check details below:

Remedium Lifecare shares Gains On Acquisition Update: As per the BSE filing of the company dated March 7, 2024, "This is to inform you that the Board of Directors of the Company at its meeting has proposed to acquire a Manufacturing Facility in Hyderabad situated at Phase 2, Survey No.10, Gaddapotharam Industrial Area, Jinnaram Mandal, Medak, Sangareddy District, Hyderabad-502319, Telangana, India. having an area of 130680 square feet.The unit is well equipped to produce Intermediates for the Pharmaceutical Industry. The plan, post the successful acquisition is to set up an ultramodern Solvent Recovery Plant for third party purposes. This Solvent Recovery Plant would offer services to the Pharmaceutical and Specialty Chemicals sector. The consideration, of approximately Rs. 38 Crores (Rupees Thirty-Eight Crores) will be paid over multiple milestones."

Remedium Lifecare Shares Price & Return: The 52-week high price of Remedium Lifecare shares on BSE is Rs 179.66 apiece and 52-week low price is Rs 11.16 apiece, respectively. Remedium Lifecare stock offered 29% return year-to-date, declined 17.58% in last 6-months, and rallied 961% in last 1-year. In last 3-years, Remedium Lifecare stock gained 7316% and 21,382% in last 5-years.

Remedium Lifecare Traded Ex-Split On Feb 23, 2024: The company's Board approved and recommended for Sub-division of Company's 1 (One) Equity Share of Face Value of Rs. 5/- each into 5 (Five) Equity Shares ofFace Value of Re. 1/- each. The company fixed February 23, 2024 as the record date.

Remedium Lifecare Bonus Issue In 2023: Earlier, the company declared 9:5 bonus issue and fixed its record date as July 29, 2023.

Remedium Lifecare Quarterly Results: The company declared healthy quarterly performance on February 14, 2024. The company declared its net sales for the quarter ending December 2023 at Rs 1834.18 crore, up 939.33% as against Rs 176.48 crore in the corresponding quarter of last year. Its quarterly net profit for the December 2023 quarter announced at Rs 68.78 crore, up 4419.81% as compared to Rs 1.52 crore in the similar quarter of last year. Its EBITDA stood at Rs 68.81 crore, up 4339.35% for the quarter under review as against Rs 1.55 crore in December 2022. The EPS of the company announced at Rs 34.12 for December 2023 quarter from Rs 4.23 in December 2022.

Remedium Lifecare About: It is a leading pharmaceutical company aligned across two business verticals viz. Products and Services. Its products business comprises trading and sale of APIs and Intermediates to innovator and generic pharmaceutical players in both Domestic and International markets including the regulated markets, according to its official website.

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