Ashish Kacholia spotlight: Board approves allotment of 3,70,000 shares in multibagger pharma micro-cap; company secures purchase commitment from first public sector drug manufacturer!
The stock has proven its mettle with a staggering 333.59 per cent multibagger return in the past year, firmly establishing itself as a micro-cap gem with a market cap of Rs 170 crore
As the Indian markets kick-start the week with renewed fervor, the bulls are once again orchestrating a market symphony, with Nifty scaling new heights and breaching the 21,450 mark by midweek. While the majority of sectors paint the trading landscape in shades of green, the Nifty IT sector stands as a lone ranger, experiencing a modest dip of 0.06 per cent.
In this vibrant scenario, where optimism courses through the veins of investors, one stock stands out in the limelight – Sanjivani Parenteral Ltd. This pharmaceutical juggernaut has not only surged by an impressive 2 per cent, triggering an upper circuit, but it has also clinched a fresh 52-week high at Rs 169.80.
Sanjivani Parenteral Ltd. operates with finesse from its two state-of-the-art manufacturing plants in Navi Mumbai and Dehradun. Specializing in the production and distribution of high-quality parenteral and oral solid products, the company caters to major therapeutic areas, including CNS, CVS, Antibiotics, Gastroenterological, Anti-Diabetics, and Anti-Allergic, all supported by a robust R&D setup.
In the financial arena, Q2FY24 reports unveil a dynamic performance, with a staggering 73.3 per cent of revenue stemming from exports and the remaining 26.7 percent from the domestic market. Notably, the revenue distribution across product categories reveals injections as the revenue champion, commanding an impressive 60.1 percent, followed closely by tablets at 38.7 per cent.
With a keen eye on the future, Sanjivani Parenteral Ltd. has four exciting products in the pipeline – Infusion Injectables, IV sets (medical device), Pre-filled syringe-enoxaparin, and Complex injectables with a focus on long-acting emulsions.
The company's strategic collaboration with Hindustan Antibiotics Ltd. further amplifies its growth trajectory. An agreement has been inked for the manufacturing of IV formulations and IV sets, with a confirmed purchase commitment. The plant, slated for commissioning by Q3FY25 in Pune, is expected to boast a capacity of 50 lakh bottles of IV fluids and 10 lakh IV sets per month.
In a significant move, the board of Sanjivani Parenteral Ltd. convened on December 25, 2023, approving the issuance of 600,000 convertible warrants to promoter Mr. Ashwani Khemka. Priced at Rs 135.10 per warrant, the transaction allows for a 25 per cent upfront payment, with the remaining 75 per cent payable upon conversion into equity shares within 18 months.
Further fortifying its financial standing, the board also greenlit preferential allotment of 16,86,000 equity shares at Rs 135.10 per share, amounting to Rs 22.77 crores. Notable investors in this round include India Bridge Fund, Mr. Ashish Kacholia, and Mrs. Monika Garware.
The stock has proven its mettle with a staggering 333.59 per cent multibagger return in the past year, firmly establishing itself as a micro-cap gem with a market cap of Rs 170 crore. As investors eagerly await the Extraordinary General Meeting scheduled for January 18, 2024, Sanjivani Parenteral Ltd. seems poised for an exciting chapter in its growth saga. As the market heats up, this pharmaceutical star is one to watch, shining brightly in the ever-evolving narrative of India's dynamic financial landscape.
Disclaimer: The article is for informational purposes only and not investment advice
DSIJ offers a service 'Flash News Investment' with recommendations for Profit-making Ideas for You (Weekly) based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
Related articles
-
Dark horse stock of the day: This micro-cap company rallies 20 per cent and hit upper circuit today with heavy volumes!
-
Stocks from this Gujarat-based business group outperform Tata group stocks, surging over 500 per cent, both turned multibagger- Check if you hold them!
-
Insider buying and FSSAI green light: Mid-cap stock on radar as FSSAI verifies use of 100 per cent real cheese!
-
Order received from Reliance Industries: Multibagger stock below Rs 60 locked at upper circuit; expects further orders from Reliance Industries!
-
Ajay Devgn: Bollywood's Singham allotted 1,00,000 shares of multibagger stock; scrip Locked at upper circuit and jumped over 2100 per cent!
-
LIC and Quant Mutual fund allotted 89,55,233 and 44,77,611 shares of multibagger stock; company reduces its debt- keep an eye on this stock!
-
Multibagger stock below Rs 20: Aditya Birla Group's stock big fundraising plans; will it be an alpha generator? Promoters to participate!
-
1,431 per cent returns: 5,69,800 equity shares allotted to promoter; Solar power plant to set-up from internal accruals- Don’t miss the action in this small-cap stock!
-
Mukul Agrawal and Tata AIA-backed defence small-cap multibagger stock received a big order from the Ministry of Defence, company aims for Rs 900 crore in revenue!
-
CM Yogi Adityanath inaugurated the green mobility plant set by renowned Auto sector giant; Click to find out!
-
Multibagger solar stock hits back-to-back upper circuits: Bonus and rights issue likely; watch out!
-
Ten stocks close to their 52-week high
-
Highest-ever dividend: Multibagger micro-cap stock with low PE and high dividend yield - A must-watch!
-
Rs 4,128 crore order: Small-cap multibagger receives contract from BMC for Water Treatment Plant; order book hits Rs 8,500 crore milestone!
-
Multibagger penny stock at Rs 34 with Rs 2,326 crore order book: Heavy buying in this engineering stock, hit back-to-back upper circuits & 52-week highs!
-
Back-to-back upper circuit: Ashish Chugh gains Rs 34,35,960 soon after his entry into multibagger micro-cap stock!
-
Is this Hinduja Group stock ready for a Tata Motors-like move after its Q3 earnings? It registered double-digit EBITDA and achieved a historic high in commercial vehicle (CV) volume!
-
NSE Investments-backed stock increases its stake in ONDC: A proxy play for ONDC growth- A must-add to your watchlist!
-
Multibagger penny stock below Rs 10: A hidden gem groundbreaking achievement with the 1st GI tag in Jammu & Kashmir!
-
Mid-cap stock below Rs 15: Fund managers purchased 15,97,24,433 shares; Tata and Parag Parikh fund schemes doubled their stakes!