Pharma Stock Partners With UK Firm To Manufacture Lithium Carbonate, Shares Rally 9%

Small cap pharmaceuticals sector company Remedium Lifecare Ltd shares gained more than 9% in trade today on BSE soon after it informed about entering into a strategic agreement with Angel Partners, Ltd., UK, to acquire technology for manufacturing lithium carbonate in India. Current market price of Remedium Lifecare shares on BSE is Rs 15.43 per share. Remedium Lifecare shares offered eye-catching returns of 1164% in last 2-years but declined 60% in last 1-year. Earlier, Remedium Lifecare recommended bonus share in the proportion of 3:1 and fixed July 6, 2024 as the record date. Check details below:

Remedium Lifecare Inks Alliance With Angel Partners: As per the BSE filing of Remedium Lifecare issued on July 29, 2024, "We are pleased to announce that Remedium Lifecare Ltd. has entered into a strategic agreement with Angel Partners, Ltd., UK, effective July 29, 2024, to acquire technology for manufacturing lithium carbonate in India. We have also signed an annual Supply Agreement with Alfa Chemicals and Solvents Ltd., Turkey, effective the same date. Supplies of technical-grade lithium carbonate will commence in the January-March 2025 quarter. The supplies for CY 2025 are valued at USD 20-25 million. Technical-grade lithium carbonate is used in lithium-ion batteries for electric vehicles and portable electronics."

Remedium has partnered with various contract manufacturers to produce technical-grade lithium carbonate using the technology from Angel Partners, Ltd, added the BSE filing.

When it comes to terms & Condition of order(s)/contract(s), it will be a one-year supply contract starting from quarter 4 of FY 2024-25. The value of supplies in CY 2025, that is, January 2025 to December 2025, will be about INR 167,00,00,000 to INR 210,00,00,000.

Fundraising On July 8: Earlier, Remedium Lifecare approved raising funds by way of issuance of such number of equity shares having face value of Re 1 each of the Company and/or other eilgtble securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding Rs 200 Crores by way of qualified institutional placement (QIP) or other permissible mode in one or more tranches and in accordance with the applicable laws.

Remedium Lifecare Share Performance & Return: The 52-week high price of Remedium Lifecare shares on BSE is Rs 44.92 apiece (as on 02/08/2023) and 52-week low price is Rs 14.32 apiece (as on 26/07/2023), respectively. Remedium Lifecare share gained declined 6% in last 2-weeks, gained over 2% in last 1-month, fell 38% year-to-date, rose 1225% in last 3-years, and jumped 8444% in last 5-years.

Remedium Lifecare Stock Split In 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 of Face Value of Re. 1/- each. The company fixed February 23, 2024 as the record date.

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.

Disclaimer:

The stock highlights alliance with UK Firm and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.