52-Week High Alert: Multibagger Stock Under Rs 55 In Green As Board Is Likely To Raise Funds
The stock gave multibagger returns of 819 per cent from its 52-week low of Rs 5.82 per share.
On Tuesday, shares of Sudarshan Pharma Industries Ltd gained 4.94 per cent to Rs 53.50 per share from its previous closing of Rs 50.98 per share. The stock also made a new 52-week high of Rs 53.50 per share while its 52-week low is Rs 5.82 per share.
The company informed that a meeting of the Board of Directors of Sudarshan Pharma Industries Limited is scheduled to be held on Friday, January 10, 2025, inter alia, to transact the following businesses: (i) To evaluate the proposal for raising of funds to augment the financial resources of the Company, by way of issue of securities, convertible instruments, through any permissible method as may be decided by the Board, subject to such regulatory/statutory approvals as may be required including the approval of shareholders of the Company and to appoint necessary intermediaries, if any, for this purpose; and (ii) any other matter with the permission of the Chairman.
Earlier, the company announced that it acquired Sudarshan Pharma Industries Private Limited, a Singapore-based industrial chemical wholesaler, for SGD 10,000 to expand in Singapore. Sudarshan Pharma is independently owned. The acquisition requires no significant regulatory approvals and will be cash-funded. Additionally, the company has acquired a 51 per cent stake in Ishwari Healthcare Private Limited, a manufacturer and distributor of medical and surgical instruments, making it a subsidiary.
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About the Company
Sudarshan Pharma Industries Limited (SPIL), established in 2008 and headquartered in Mumbai, is a prominent contract manufacturer of generic formulations. Operating across diverse segments, including speciality chemicals, intermediates, APIs, pharmaceutical and formulation generics, and bulk supply, SPIL caters to a wide range of institutions and healthcare organizations. Beyond its contract manufacturing services, SPIL has ventured into branded products through its Vimac Healthcare division. A significant portion of its product portfolio, consisting of 56 out of 96 items, is registered under the "R" trademark. Furthermore, SPIL collaborates with renowned Indian companies and institutional clients, offering contract manufacturing services for pharmaceutical formulations and medicines.
On November 22, 2023, the shares of the company ex-traded sub-division /stock split of the company’s 1 (one) equity share having a face value of R 10 each fully paid-up, into 10 equity shares of the company having a face value of Re 1 each fully paid-up.
The company has a market cap of Rs 1,260 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years. The stock gave multibagger returns of 819 per cent from its 52-week low of Rs 5.82 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.