Rs 140 to Rs 3,939: This pharma stock delivered multibagger returns in 2023; hit record high in previous session

Shares of multibagger Remedium Lifecare Ltd have delivered 2700% returns to the investors this year. The stock, which closed at Rs 140.7 on December 30, 2020 rose to Rs 3939.70 on June 23 2023, clocking 2700% returns during the period. In comparison, Sensex has risen 3.52% this year. In the last session, Remedium Lifecare stock ended 4.73% higher at Rs 3939.70 on BSE. The stock opened higher at Rs 3924.95 against the previous close of Rs 3761.60 on BSE. 

The multibagger stock has gained 38.21% in the last seven sessions. The stock hit a record high of Rs 3949.65 in the previous session.  

Market cap of the firm rose to Rs 1418.29 crore. Total 0.10 lakh shares changed hands amounting to a turnover of Rs 3.94 crore on BSE. Remedium Lifecare stock hit a 52-week low of Rs 136.15 on September 23, 2022.  

In terms of technicals, the relative strength index (RSI) of Remedium Lifecare stock stands at 87.8 signaling it's strongly overbought. Remedium Lifecare stock has a one-year beta of -0.2, indicating very low volatility during the period. Remedium Lifecare shares are is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.     

In the March quarter of the last fiscal, Remedium Lifecare posted a loss of Rs 4.78 crore against a loss of Rs 1.16 crore during the quarter ended March 2022.  However, sales rose to Rs  Rs 75.58 crore in Q4 against Rs 40.29 crore during the quarter ended March 2022.      

For the fiscal ended March 2023, the firm reported a profit of Rs 5 crore against a profit of Rs 1 crore in the year ago period. Sales rose to Rs 510 crore in the last fiscal against Rs 505 crore for the fiscal ended March 2022.    

One promoter held 1.11 per cent stake or 40,000 shares in the firm and 704 public shareholders owned 98.89 per cent or 35.60 lakh shares for the quarter ended March 2023. Of these, 630 resident individuals held 4.01 lakh shares or 11.16% stake with capital up to Rs 2 lakh. Only 37 shareholders with 75.07% stake or 27.02 lakh shares held capital above Rs 2 lakh for the quarter ended March 2023. 

Remedium Lifecare being a pharmaceutical company is aligned across two business verticals viz. products and services. Products business comprises trading and sale of APIs and intermediates to innovator and generic pharmaceutical players in both domestic and international markets including the regulated markets. 

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