560 Per cent Profit Growth: Stock Under Rs 10 Rallies and Hits Upper Circuit Today; Here’s Why!
The company’s shares have delivered an impressive return of around 720 per cent in just 2 years.
Incorporated in 1988 Remedium Lifecare Ltd is engaged in trading advanced pharmaceutical intermediates and other pharma products.
The company has announced that a meeting of the Board of Directors is scheduled for Tuesday, September 3, 2024, at 01:00 P.M. at the company's registered office. The agenda includes:
- Consideration of acquiring Airowater Global Trading LLC, UAE, a company specializing in water injectables for pharmaceutical production.
- Discussion on the issuance of Foreign Currency Convertible Bonds (FCCBs).
- Any other business with the permission of the Chair.
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At the start of today’s trading session, the Remedium Lifecare Ltd shares opened at Rs 8.97 per share, compared to yesterday’s closing figure of Rs 9.44 per share on the BSE. The shares have reached the upper circuit price limit of 5 per share, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Finally, the shares closed at 9.91 per share today.
As per Quarterly Results in Q1 FY25, the company reported a quarterly revenue from operation of Rs 77.70 crore and an operating profit of Rs 0.39 crore while the net profit of the company stood at Rs 1.64 crore in Q1 FY25 compared to a profit of Rs 5.25 crore.
Turning attention to the annual performance of the company, it reported a revenue of Rs 4040 crore while the company’s net profit stood at Rs 33 crore in FY24 compared to a profit of Rs 5 crore.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.