Remedium Lifecare trades jubilantly on entering into strategic agreement with Angel Partners
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Remedium Lifecare is currently trading at Rs. 15.74, up by 1.34 points or 9.31% from its previous closing of Rs. 14.40 on the BSE.
The scrip opened at Rs. 14.50 and has touched a high and low of Rs. 16.00 and Rs. 14.45 respectively. So far 2406684 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 44.92 on 02-Aug-2023 and a 52 week low of Rs. 14.32 on 26-Jul-2024.
Last one week high and low of the scrip stood at Rs. 19.00 and Rs. 14.32 respectively. The current market cap of the company is Rs. 631.41 crore.
The promoters holding in the company stood at 1.11%, while Non-Institutions held 98.89% stake in the company.
Remedium Lifecare has entered into a strategic agreement with Angel Partners, UK, effective July 29, 2024, to acquire technology for manufacturing lithium carbonate in India. The company has also signed an annual Supply Agreement with Alfa Chemicals and Solvents, Turkey, effective July 29, 2024.
Supplies of technical-grade lithium carbonate will commence in the January-March 2025 quarter. The supplies for CY 2025 are valued at $20-25 million. Technical-grade lithium carbonate is used in lithium-ion batteries for electric vehicles and portable electronics. The company has partnered with various contract manufacturers to produce technical-grade lithium carbonate using the technology from Angel Partners.
Remedium Lifecare is pharmaceutical company aligned across two business verticals viz. Products and Services.
