Don’t miss action in this multibagger stock that is likely to announce rights issue; stock surged over 10 per cent on June 20!
From Rs 83.87 per share to Rs 272.95 per share, the stock gave multibagger returns of 225.45 per cent in just 1 decade.
On Tuesday, one of the Top Gainers on BSE, shares of Shilpa Medicare Ltd zoomed 13.56 per cent to Rs 272.97 per share from its previous closing of Rs 240.35. At the closing bell, shares of the company were trading at Rs 265.25 per share, up 10.36 per cent.
The sudden increase in the stock price was that Shilpa Medicare informed that a meeting of the Board of Directors of the company will be held on Friday, June 23, 2023 to consider inter alia, the proposal of fundraising by way of Rights issue of Equity Shares, subject to such Regulatory/ Statutory approvals as may be required.
In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015 read with the Company’s code of conduct to Regulate, Monitor and Report Trading by Designated persons, the Trading window of the Company shall remain closed with immediate effect till 23 June 2023 and shall reopen on 24 June 2023.
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Shilpa Medicare Ltd is an Indian pharmaceutical company that specializes in the development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs). The company has a global presence, with exports to over 65 countries.
According to the financials, Shilpa Medicare has a market cap of Rs 2,307.42 crore. The shares of the company saw a spurt in volume by more than 5.36 times on BSE.
From Rs 83.87 per share to Rs 272.95 per share, the stock gave multibagger returns of 225.45 per cent in just 1 decade. Investors should keep an eye on this small-cap pharma stock.