600 Per Cent Returns: Multibagger Specialty Chemicals & Pharma Stock Hit Back-To-Back 52-Week Highs; Board Likely To Announce Stock Split
The stock gave multibagger returns of over 600 per cent from its 52-week low of Rs 58.20 per share.
Today, shares of Sudarshan Pharma Industries Ltd gained 4.90 per cent to an intraday high of Rs 423.95 per share from its previous closing of Rs 404.15 per share. The stock also made a new 52-week high of Rs 423.95 per share while its 52-week low is Rs 58.20 per share. The stock has been hitting back-to-back 52-week highs in the recent trading session.
Sudarshan Pharma Industries Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Monday, September 30, 2024, inter-alia to transact the following businesses:
1) The proposal for sub-division / stock split of the company's equity shares presently has a face value of Rs 10 each in such manner as the board may determine.
2) Alteration in the capital clause of the company's memorandum of association after the above decision.
3) Seek members’ approval for the items mentioned above.
Additionally, the company has expanded its reach with the establishment of a new subsidiary, Sudarshan Maven Pharma Private Limited. The parent company has taken a controlling interest in Sudarshan Maven by acquiring 70 per cent of its equity shares. Sudarshan Maven is primarily focused on the research, development, and manufacturing of pharmaceutical products, including active pharmaceutical ingredients (APIs), intermediates, and antibiotics. The subsidiary also ventures into healthcare products, Ayurvedic supplements, and medicinal preparations. This strategic acquisition aligns seamlessly with Sudarshan Pharma's existing business operations and is anticipated to drive growth and diversification within the chemical and pharmaceutical sectors.
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Sudarshan Pharma Industries Limited (SPIL), established in 2008 and headquartered in Mumbai, is a prominent contract manufacturer of generic formulations. Operating across diverse segments, including specialty chemicals, intermediates, APIs, pharmaceutical and formulation generics, and bulk supply, SPIL caters to a wide range of institutions and healthcare organizations.
Beyond its contract manufacturing services, SPIL has ventured into branded products through its Vimac Healthcare division. A significant portion of its product portfolio, consisting of 56 out of 96 items, is registered under the "R" trademark. Furthermore, SPIL collaborates with renowned Indian companies and institutional clients, offering contract manufacturing services for pharmaceutical formulations and medicines.
The company has a market cap of over Rs 1,000 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years. The stock gave multibagger returns of over 600 per cent from its 52-week low of Rs 58.20 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.