Bonus Issue Likely On May 10: Pharma Stock Falls 8.52% In 1-Week But Rallied 1822% In 2-Yrs

Small cap pharmaceuticals sector company Remedium Lifecare Ltd shares witnessed decline of 8.52% in last 1-week span and 21% in last 1-month. The Board of Directors of Remedium Lifecare will hold meeting on May 10, 2024 to consider financial results and bonus share as well. Current market price of Remedium Lifecare share on BSE is Rs 94.90 per share with intraday decline of 3.21%. The company has a market capitalisation of Rs 956.59 crore. Remedium Lifecare has a PE of 2.50 and ROE of 342.54. More details below:

Remedium Lifecare To Declare Bonus Issue? As per the BSE filing of Remedium Lifecare dated May 2, 2024, "we hereby inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, May 10" 2024, inter alia to:

1. Consider and approve the Audited Financial Results for the quarter and Financial Year ended 31° March 2024.

2. Consider Recommendation and approval of the issue of Bonus Shares to the existing Equity Shareholders of the Company.

3. Consider any other matter with the approval of the Board."

Remedium Lifecare Shares Price & Return: The 52-week high price of Remedium Lifecare shares on BSE is Rs 179.66 apiece (as on 02/08/2023) and 52-week low price is Rs 66.83 apiece (as on 01/06/2023), respectively. Remedium Lifecare share fell 16% in last 6-months, zoomed 32% in last 1-year, and offered highly attractive return of 4059% in last 3-years only. In last 5-years, Remedium Lifecare stock gained 17,307%.

Remedium Lifecare Recent Acquisition: As per the BSE filing of the company dated March 7, 2024, "Board of Directors of the Company at its meeting 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."

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 Bonus Issue: 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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