Multibagger penny stock at Rs 70 jumped over 17 per cent on June 28 with heavy volume

The stock of Remedium Lifecare Ltd has shown remarkable growth, with multibagger returns of 1,800 per cent in 3 years and an impressive 9,360 per cent in 5 years. Today, the company’s shares surged by 17.66 per cent to reach an intraday high of Rs 70.

Established in 1988, Remedium Lifecare Ltd operates as a pharmaceutical intermediary, dealing in active pharmaceutical ingredients (APIs) and intermediate chemicals for drug production. The company recently secured a significant contract with Aster Biotech Limited, a UK-based pharmaceutical distributor, spanning three years starting from July 2024.

In a move to reward shareholders, the company’s board has proposed a bonus share issue in a 3:1 ratio, along with a recommendation to increase the authorized share capital from Rs 30 crore to Rs 42 crore. This follows previous stock splits and bonus share issuances that have reshaped the company’s share structure.

Remedium Lifecare Ltd boasts a market cap of over Rs 650 crore and has reported substantial revenue growth in recent quarters. The company’s total income in Q4FY24 saw a significant increase compared to the previous year, reflecting strong performance and growth prospects.

The shareholding pattern reveals that the majority of the company’s shares are held by public shareholders, with minimal stake owned by promoters. The stock has delivered exceptional returns over the years, making it an attractive choice for investors seeking growth opportunities.

Please note that this article is for informational purposes only and should not be considered as investment advice.