Low PE stock below Rs 5: Don’t miss action in this micro-cap stock that has announced Rights Issue!

The shares of the company saw a spurt in volume by more than 2.07 times on BSE.

On Thursday, shares of Earum Pharmaceuticals zoomed 6.53 per cent to Rs 2.61 per share from its previous closing of Rs 2.45. The stock has a 52-week high of Rs 8.30 and a 52-week low of Rs 1.94.   

Earum Pharmaceuticals informed that the company has approved the rights issue. The eligibility of shareholders entitled to the issuance of 4 (four) fully paid-up equity shares of the company having a face value of Rs 2 (rupees two only) each for every 1 (one) equity share held by the eligible existing equity shareholder in the company on rights basis (‘Rights Issue’).  

Earum Pharmaceuticals Limited produces and distributes pharmaceutical products. The Company offers tablets, capsules, ointments, creams, gels, powders and syrup. Earum Pharmaceuticals markets its products globally.  

Earum Pharmaceuticals has a market cap of Rs 15.30 crore. The company reported positive numbers in its both Quarterly Results and annual results. In Q3FY23, the net profit zoomed 44.22 per cent compared to Q2FY22. The company has reduced its debt in FY22-23 and the current debt of the company is 8.74 crore as of today.  

The shares of the company saw a spurt in volume by more than 2.07 times on BSE. Investors should keep an eye on this micro-cap pharmaceutical company’s stock.