Remedium Lifecare shares rise 7% after order win

Shares of Remedium Lifecare Ltd rose about 7 per cent during the trading session on Thursday after the company received an order from UAE based company. The company informed about the same through an exchange filing after the market hours on Wednesday.

"We wish to inform you that the company has received an export order of Rs 169 crore, from Pharmyka General Trading LLC, a pharmaceutical company situated in UAE," said Remedium Lifecare in an exchange filing with the bourses. The order has been made for supplying pharmaceutical chemicals for the period between April 2024 and March 2025, it said.

Following the announcement, shares of Remedium Lifecare surged 6.85 per cent to Rs 140 on Thursday, with a total market capitalization of more than 1,350 crore. However, it gave up some gains as the session progressed. The stock had settled at Rs 131.35 on Wednesday.

Shares of Remedium Lifecare have jumped more than 40 per cent in the last one month, while the stock is up 35 per cent in the year 2024 so far. It has rallied more than 1,200 per cent in the last one year. However, it is down about 20 per cent in the last six months.

Earlier this month, the company had split its shares in a 1:5 ratio where investors were given 5 shares for each one share held by the eligible investors as of the record date, which was fixed for February 23, 2024 after the approval of shareholders and board members of the company.

Remedium Lifecare, formerly known as Roxy Exports, is engaged in trading in API intermediates- KSMs & CRMs- and various other raw materials used in API trading. It is a contract trader and a brand owner of advanced intermediates & APIs.