Medico Remedies surges on commencing work for new factory
Medico Remedies is currently trading at Rs. 54.74, up by 1.52 points or 2.86% from its previous closing of Rs. 53.22 on the BSE.
The scrip opened at Rs. 52.20 and has touched a high and low of Rs. 54.74 and Rs. 52.20 respectively. So far 6018 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.78 on 06-Feb-2025 and a 52 week low of Rs. 35.00 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs. 56.00 and Rs. 50.33 respectively. The current market cap of the company is Rs. 453.26 crore.
The promoters holding in the company stood at 63.79%, while Institutions and Non-Institutions held 0.13% and 36.08% respectively.
Medico Remedies has commenced work for new factory for manufacturing of B lactum tablets, capsules, dry syrup and injections (including amoxycillin and clauvulinic acid formulations). This plant will have capacity of 25 million tablets, 45 million capsules,10 million dry syrups, 10 million injectables. The investment required for this capacity is Rs 30 crore. The proposed capacity is to be added within 2 years.
The state-of-the-art facility in going to be made as per PIC/S guidelines. It is expected to add about 25 crore revenue after receiving all approvals.
Medico Remedies is a leading manufacturer and exporter of pharmaceutical formulations including tablets, capsules and suspensions.
