200 per cent returns in just 6 months: This multibagger healthcare stock zooms 3 per cent to make a new 52-week high!

In Q3FY23, net sales rose by 28.95 per cent and net profit skyrocketed 122.77 per cent compared to Q3FY22.   

On Thursday, the benchmark indices ended the day flat. BSE Sensex Index was up by 0.06 per cent and NSE Nifty-50 Index was up by 0.09 per cent. On the sectoral front, indices were trading mixed today. Today, NSE Healthcare Index was down by 0.59 per cent to a level of 7,931.50.   

Despite being a mixed market, shares of Medico Remedies zoomed 3.47 per cent to make new 52-week high of Rs 89.50 per share from its previous closing of Rs 86.50 on NSE. At closing bell, shares of the company ended the day in green, up 1.16 per cent to Rs 87.50 per share.   

The company recently completed a stock split of shares in the ratio of 10:1 with a record date of Thursday, March 16, 2023 and before to this, on November 16, 2021, the company completed a bonus share in the ratio of 3:1.  

Medico Remedies Limited manufactures and distributes pharmaceutical products. The Company offers products such as antibiotics, vitamins and supplements, anti-ulcer drugs, dry syrup, capsules, ointments and creams. Medico Remedies markets its products worldwide.  

According to the financials, this pharmaceutical company has a market cap of Rs 726 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 206 per cent in just 6 months whereas NSE Healthcare Index is down by 2.37 per cent. Investors should keep an eye on this stock.