Multibagger Update: Fredun Pharmaceuticals rallies 10 per cent; records fresh 52-week high!
The company had recently conducted a grand launch for ‘Freossi’ range of products in Mumbai in association with PPAM
Fredun Pharmaceuticals seems to be firing on all cylinders. Shares of the company zoomed 10 per cent on Thursday to record a fresh 52 week high of Rs 1,158.35 on BSE.
Last month the company had received approval for manufacturing Xenografts for various dental and orthopaedic surgical appliances from Central Drugs Standard Control Organisation (CDSCO), India. With this, the company aims to penetrate the dental fraternity across India.
In Q3FY22 the company had launched Fredun Nutrition in UAE. As per their filing with exchange six products have already achieved targeted sales and ten products are currently under registration. They plan to have 33 products registered by end of December 2022 in the MENA region. Also, the company had recently conducted a grand launch for ‘Freossi’ range of products in Mumbai in association with PPAM.
Fredun Pharmaceuticals is primarily engaged in the business of pharmaceuticals and healthcare. It offers a range of products, including antihypertensives, antidiabetic, antiretroviral drugs (ARVs) and narcotics. It is also engaged in the manufacturing of dietary/herbal supplements, nutraceuticals, and other healthcare products along with animal healthcare products. They primarily export to Africa, Southeast Asia, Commonwealth of Independent States (CIS) countries and Latin America.
Shares of Fredun Pharmaceuticals have more than doubled in less than six months. Year to date the stock is up by ~34 per cent and over the last five trading sessions, the stock has furnished returns of 24 per cent.
Investors should keep a close eye on this stock during tomorrow’s session.