Multibagger in just 6 months: Don’t miss the action in this stock that had announced stock split!
The stock gave multibagger returns of 259.54 per cent in just 6 months and in 1 year, it returned over 360 per cent.
Today, shares of Medico Remedies Ltd surged 5 per cent upper circuit to the day’s high of Rs 366.55 per share from its previous closing of Rs 349.10. The shares ended the day higher, up 2.33 per cent to Rs 357.25 per share. The shares of the company also traded at a new 52-week high of Rs 366.55.
The reason behind the rise in share price was due to the sub-division/split of 1 equity share of face value Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid up. The Board of Directors of Medico Remedies Ltd have fixed Thursday, March 16, 2023, for the stock split.
Medico Remedies is a Small-Cap company which is engaged in the business of manufacturing allopathic pharmaceutical preparations. Today, shares of the company saw a spurt in volume by more than 2.18 times on BSE.
According to the financials, this pharmaceutical company has a market cap of Rs 593 crore. The company reported excellent numbers in both Quarterly Results and annual results. In Q3FY23, net sales rose by 28.95 per cent and net profit skyrocketed 122.77 per cent compared to Q3FY22.
The stock gave multibagger returns of 259.54 per cent in just 6 months and in 1 year, it returned over 360 per cent. This company’s stock should be kept under the watchlist.