{"id":134309,"date":"2024-09-24T14:23:38","date_gmt":"2024-09-24T08:53:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=134309"},"modified":"2024-09-24T14:30:35","modified_gmt":"2024-09-24T09:00:35","slug":"pharma-stock-hits-10-upper-circuit-after-company-to-expand-its-business-in-international-market","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-hits-10-upper-circuit-after-company-to-expand-its-business-in-international-market\/","title":{"rendered":"Pharma stock hits 10% upper circuit after company to expand its business in international market"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-369459969\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of the pharmaceutical product manufacturer gained up to 10 percent after the company signed a memorandum of understanding to expand its business in the French West African Market.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3027812297\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MEDIORG\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Medicamen Organics Ltd<\/a><\/strong> with a market capitalization of Rs 84.83 crore, the shares were trading at Rs 72.50 per share, increasing around 10 percent as compared to the previous closing price of Rs 66 apiece.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for Rise:-&nbsp;<\/strong><\/h2><p>The shares of the company have seen positive movement after Medicamen Organics Ltd signed a memorandum of understanding with Mr. Vaibhav Kashinath Chaudhari (VKC) and Mistycube Analytics (MA) to expand its business in the French West African Market.&nbsp;<\/p><p>Moreover, This strategic partnership will lead to the formation of Grande Etoile Pharmaceuticals Ltd. (GEPL), aiming to expand its presence in the French West African (FWA) market, including countries such as Senegal, Mali, Ivory Coast, and others.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-208602269\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/ashish-kacholia-stock-jumps-6-after-it-acquires-7-cnc-machines-for-defence-and-aerospace\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ashish Kacholia stock jumps 6% after it acquires 7 CNC machines for defence and aerospace<\/a><\/strong><\/p><\/blockquote><p>Additionally, with this partnership, the company will establish a strong business in the French West African Market by establishing comprehensive infrastructure and distribution networks for pharmaceutical products and in this MoU the company will hold 51% of the new company.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financial Condition:-&nbsp;<\/strong><\/h2><p>Looking forward to the company\u2019s financial performance, revenue magnified by 14 percent from Rs 22.15 crore in FY22-23 to Rs 25.27 crore in FY23-24, during the same period, net profit magnified multifold times by 147 percent from Rs 0.97 crore to Rs 2.40 crore.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Manufacturing facilities &amp; product portfolio:-&nbsp;<\/strong><\/h2><p>The company&#8217;s product list comprises 84 products and offers a wide range of drugs such as antibacterial, antidiarrheal, antifungal, antimalarial, antidiabetic, proton pump inhibitors, antihistamines, antihypertensive drugs, lipid preparations, antiparasitics, multivitamin preparations, multimineral and non-steroidal anti-inflammatory drugs (NSAIDs).&nbsp;<\/p><p>The company has two WHO-GMP-approved manufacturing facilities in Haridwar, Uttarakhand, covering an area of 21,536 Sq. Ft. As of September 30, 2023, the company has entered into contract manufacturing with 38 domestic partners and 12 merchant exporters.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Global Footprint:-&nbsp;<\/strong><\/h2><p>The company&#8217;s products are marketed throughout India as well as in African, CIS, and South East Asian countries such as Congo, Benin, Kameg, Togo, Senegal, Burkina Faso, Philippines, Myanmar, Mozambique, Togo, Burundi, Kyrgyzstan and Kenya through third-party distributors.<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Company snapshot:-&nbsp;<\/strong><\/h2><p>Medicamen Organics Limited manufactures pharmaceutical formulations and products, such as tablets, capsules, oral liquids, and ointments. The firm maintains two WHO-GMP-certified factories in Haridwar. Medicamen&#8217;s product portfolio includes 84 pharmaceuticals.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-4166677705\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/nuclear-stock-jumps-6-after-receiving-order-from-bhel-for-mechanical-seals\/\" target=\"_blank\" rel=\"noreferrer noopener\">Nuclear stock jumps 6% after receiving order from BHEL\u00a0for mechanical seals<\/a><\/strong><\/p><\/blockquote><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by:- Abhishek Singh.&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-4275475424\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of the pharmaceutical product manufacturer gained up to 10 percent after the company signed a memorandum of understanding to expand its business in the French West African Market.&nbsp; Medicamen Organics Ltd with a market capitalization of Rs 84.83 crore, the shares were trading at Rs 72.50 per share, increasing around 10 percent as [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[22832,22834,22833,6616,948,936,2597],"class_list":["post-134309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-medicamen-organics","tag-medicamen-organics-news","tag-medicamen-organics-share-price","tag-pharma-stock","tag-stock-market","tag-stock-market-news","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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