New Delhi: Medico Remedies shares on the bull run, turning multibagger by yielding a massive 261 per cent return in just one year, according to data available on exchanges. The pharma company’s stock currently quotes Rs 87.50.
A smallcap category company having a market cap of Rs 726 crore, Medico Remedies shares were split recently. The company issued 1 bonus share to its investors for every two shares held by them. It turned ex-split on March 16. The stock has since then rallied 20 per cent.
According to the latest shareholding pattern available with the exchanges, public shareholders own around 26 per cent stake, while the remaining 74 per cent is owned by promoters and promoter groups.
ALSO READ: In huge crackdown, Govt cancels licenses of 18 pharma companies for manufacturing spurious medicines
About Medico Remedies
The Mumbai-based company was founded in 1994. It manufactures and distributes products like vitamins and supplements, antibiotics and other pharma products. It also has hygienic production facilities located in Palghar.
The stock’s 52-week high is Rs 89, touched on April 11. 2023. The scrip has advanced 35 per cent in 2023 so far. Since April 2021, the counter has popped more than 1,600 per cent. It is among others that have turned multibaggers in FY23.
The other major stocks that turned multibaggers in FY23 include K&R Rail Engineering, Axita Cotton, Shilchar Technologies, Mufin Green Finance among others.
Latest Business News