Penny stock under Rs 60 in green as this pharma company bags order worth USD 2,00,000 from a reputed client based in Europe
The stock is up by 68.4 per cent from its 52-week low of Rs 33.20 per share.
On Tuesday, shares of Kimia Biosciences Limited gained 5.47 per cent to Rs 55.90 per share from its previous closing of Rs 53. The stock’s 52-week high is Rs 58.40 and its 52-week low is Rs 33.20. The shares of the company saw a spurt in volume by more than 5 times on BSE.
Kimia Biosciences Limited inform you that the company has been awarded a contract by a reputed client based in Europe. The total value of the contract is USD 2,00,000 (US Dollars Two lakh only). The contract is related to contract development and manufacturing organization (CDMO) and is expected to contribute significantly to the company’s revenue for the current financial year.
Kimia Biosciences Ltd, a pharmaceutical company established in 1993, primarily focuses on manufacturing Active Pharmaceutical Ingredients (APIs). With over 25 commercialized products and a pipeline of 9-10 molecules under development, the company has a significant presence in the pharmaceutical industry. The company's operations are spread across domestic and international markets.
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In recent years, Kimia Biosciences has achieved significant milestones, including obtaining approval for the manufacture and marketing of Bemopedoic acid Bulk Drug and receiving DMF approval for Fimasartan Potassium Trinydrate API from Korea. To enhance its operational efficiency and environmental sustainability, the company has invested in capital projects such as new reactors for increased safety, a wastewater treatment plant and upgraded facilities.
The company has a market cap of over Rs 250 crore and working capital requirements have reduced from 68.3 days to 47.2 days. The stock is up by 68.4 per cent from its 52-week low of Rs 33.20 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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