Penny stock under Rs 25 and promoters sold 5,58,000 shares: This micro-cap company bags new order worth Rs 4,78,14,540 from PMBI

The stock is up by 43.3 per cent from its 52-week low of Rs 16.05 per share and down by 44 per cent from its 52-week high of Rs 41.1 per share.

Cian Healthcare Limited informed that the company has won a tender for the supply of drugs and medicines to the Pharmaceutical and Medical Device Bureau of India (PMBI) for a period of two years. The estimated value of the contract awarded is Rs. 4,78,14,540 (Rupees Four Crore Seventy Eights Lakhs Fourteen Thousand Five Hundred Forty Only).

Founded in 2003, Cian Healthcare is a fully integrated pharmaceutical company developing, manufacturing, and marketing a wide range of products like gynaecological, orthopaedic and multivitamin solutions. They operate through domestic franchise and international distributor models, contract manufacturing for major players, and supplying government institutions and veterinary clinics. With over 1000 products exported across 15+ countries, Cian offers diverse healthcare solutions from fertility treatments to pet care.

On Friday, shares of Cian Healthcare Ltd plunged 1.29 per cent to Rs 23 per share with an intraday high of Rs 23.34 and an intraday low of Rs 22.80. The shares of the company saw a spurt in volume by more than 3.21 times on BSE. The company has a market cap of Rs 57.49 crore. According to the half-yearly results and annual results, the company reported excellent numbers.

The stock is trading at 1.02 times its book value. As of December 2023, the promoters sold 5,58,000 shares and decreased their stake to 49.62 per cent from 51.85 per cent in September 2023. The stock is up by 43.3 per cent from its 52-week low of Rs 16.05 per share and down by 44 per cent from its 52-week high of Rs 41.1 per share.

Disclaimer: The article is for informational purposes only and not investment advice. 

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