Multibagger Alert: Fredun Pharmaceuticals jumps 3.40 per cent; receives approval to manufacture Xenografts from CDSCO
The stock has furnished returns of 11 per cent over the last five trading sessions.
Fredun Pharmaceuticals is growing by leaps and bounds!
The company has recently informed the exchange that it has 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.
To quote Fredun Medhora, Managing Director of Fredun Pharmaceuticals, from a filing with the exchange, "With many doctors now using grafts, we are expanding our product portfolio with this new addition to take advantage of the growing opportunity. With this, we are targeting the Indian Dental fraternity and Orthopaedics who specialize in humans as well as veterinary surgeries. Our objective is to grow this division in H2CY22, after organizing a sale campaign for the said product in India and abroad. We are certain that this development will act as a potential boost to our top-line as well as the net-income in the years to come. We shall share further updates on the official launch and status of the development within a few months."
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 doubled in less than six months. In the last five trading sessions, the stock has furnished returns of 11 per cent. On Monday, the scrip closed at Rs 909.95 per share on BSE, with gains of 3.40 per cent.
Investors should keep a close eye on this stock during tomorrow’s session.