A multibagger pharma company listed on the Bombay Stock Exchange has announced a 1:2 stock split. Its shares were trading at ₹ 1649.00 apiece at 02:31 PM on Tuesday.
Remedium Lifecare Ltd is in the business of trading in Advanced Pharmaceutical Intermediates and other pharma products.
The company in an exchange filing informed that it has fixed September 01, 2023, as the record date for a stock split or sub-division of its shares from a face value of ₹10 each to a face value of ₹ 5 each, or in the ratio of 1:2.
The company’s share price escalated from ₹ 49.82 apiece at the beginning of 2023 to the current level, delivering multibagger returns of 3210 percent. Thus if an investor had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 33.10 lakh today!
Moreover, if we consider data for the past five years, its share price increased by a massive 33146 percent, from ₹ 4.96 apiece to the current level. Thus an investment of ₹ 1 lakh in the company’s shares would be worth ₹ 3.32 crores today!
Remedium Lifecare informed the exchanges that it will be holding a board meeting to consider and approve the Unaudited Standalone financial results of the company for the April to June quarter.
With a market capitalization of ₹ 1,650 crores, Remedium Lifecare is a small-cap company. It has a high return on equity of 70.92 percent and its shares were trading at a price-to-earnings ratio (P/E) of 304.35. Retail investors hold a 98.85 percent stake in the company, its promoters hold 1.11 percent and foreign institutions hold a 0.04 percent stake in the company.
Written by Simran Bafna
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