The stock is up by 70 per cent in just 1 year and generated multibagger returns of 1,280 per cent in 5 years.

This approval, for its Enoxaparin product in pre-filled syringes, comes from the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region. This market is projected to grow to USD 13.1 billion by 2031, with a 10-year CAGR of 5.4 per cent.

The marketing approval for Enoxaparin in Saudi Arabia is anticipated to pave the way for similar authorizations in other GCC and MENA countries. This anticoagulant holds significance in treating cardiovascular diseases, a notable health concern in Saudi Arabia, and is expected to contribute to the burgeoning global Enoxaparin market.

In Q4FY23, the company reported a 4708.7 per cent increase in net profit YoY.

The shares of the company saw a spurt in volume by more than 1.40 times on BSE. The stock has a PE of 12.03x whereas the sectoral PE is 25.50x.

Meropenem, a vital antibiotic for life-threatening infections, contributes 40 per cent to total sales. Venus Remedies launched it successfully in major European markets, securing 120+ marketing authorizations in countries like UK, France, Germany, UAE, and Australia. European market size: USD 70.34 million.

On Thursday, the Sensex fell by 139 points to close at 59,605.80, while the Nifty 50 dropped by marginal 274 points to close at 17,511.25

At 12.15 pm on Wednesday, the core equity indices i.e., Sensex and Nifty 50 were recovering amidst relaxed oil prices, and the changing political dynamics arising due to the Ukraine-Russia conflict. The Sensex was trading at 57,554.93 up by 254.24 points 0.44 per cent, while Nifty was at 17,162.40, up by 70.20 points or 0.41 per cent from the last trading session.