Multibagger penny stock under Rs 10: This small-cap pharma company is into expansion of business; scrip up by 8 per cent!
The stock gave multibagger returns of 390 per cent in 3 years and over 700 per cent in 5 years.
Syncom Formulations (India) Ltd is pleased to announce that it has commenced commercial production at its expanded and modernized plant in Pithampur, Madhya Pradesh. The expansion project was completed after months of careful planning and execution by our team. As a result of the expansion, our injection capacity has increased from 200 lakh to 300 lakh units.
On Tuesday, shares of Syncom Formulations (India) Ltd surged 8.11 per cent to an intraday high of Rs 9.07 per share from its previous closing of Rs 8.39. At the closing bell, shares of the company were trading at Rs 8.84 per share, up 5.36 per cent. The shares of the company have a 52-week high of Rs 11.65 and a 52-week low of Rs 4.55.
Syncom Formulations is a global pharmaceutical company that manufactures and markets a broad range of healthcare products. The company is a generic pharmaceutical player operating in more than 15 countries worldwide having more than 400 products registered.
Talking about the financials, the company has a market cap of Rs 831 crore. The net sales increased by 15.5 per cent to Rs 59.36 crore, operating profit increased by 76.7 per cent to Rs 6.15 crore and net profit increased by 9.8 per cent to Rs 4.25 crore in Q1FY24 compared to Q1FY23.
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The stock gave multibagger returns of 390 per cent in 3 years and over 700 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.