Multibagger in just 6 months; Board likely to announce bonus shares and stock split!
The stock gave multibagger returns of 2,347 per cent in just 6 months and over 14,500 per cent in the span of 3 years.
On Tuesday, one of the Top Gainers on BSE, shares of Remedium Lifecare Ltd jumped 5 per cent upper circuit to Rs 3,463.45 per share. The stock also traded at a new 52-week high of Rs 3,463.45 per share.
The company informed that the meeting of the Board of Directors of the company is scheduled to be held on Friday, June 23, 2023 inter alia to:
1. To recommend and approve the issue of bonus Shares to the existing Equity Shareholders of the Company.
2. To consider and approve the Sub-division of Shares/ stock split of the Company.
3. To consider and approve increasing of borrowing limit from Rs 50 crore to Rs 1000 crore by the issuance of debt securities i.e., Non -Convertible Debentures (NCD), Bank Term Loans etc.
4. To consider and approve limit for investment by way of acquisition of assets such as plants & machinery, securities, etc up to Rs 1,000 crore.
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Remedium Lifecare Ltd is in the business of trading in advanced pharmaceutical intermediates and other pharma products. The company has a market cap of over 1,246.84 crore with a 5-year CAGR of 205 per cent. The shares of the company have a ROE of 71 per cent and a ROCE of 96 per cent.
The stock gave multibagger returns of 2,347 per cent in just 6 months and over 14,500 per cent in the span of 3 years. Investors should keep an eye on this small-cap stock.