New Delhi: As per the data available with the exchanges, Medico Remedies shares have gained momentum and have become multibagger by giving huge returns of 261 per cent in just one year. The share of the pharma company is currently at Rs 87.50.
Shares of Medico Remedies, a smallcap category company having a market cap of Rs 726 crore, were recently split. The company issued 1 bonus share to its investors for every two shares held by them. It went X-split on 16 March. The stock has gained 20 per cent since then.
As per the latest shareholding pattern available with the exchanges, public shareholders hold about 26 per cent while the remaining 74 per cent is owned by promoters and promoter groups.
about medico treatment
The Mumbai based company was established in 1994. It manufactures and distributes products such as vitamins and supplements, antibiotics and other pharma products. It also has clean production facilities located in Palghar.
The stock has a 52-week high of Rs 89, which was touched on April 11, 2023. The stock is up 35 percent so far in 2023. Since April 2021, there has been more than 1,600 percent popup at the counter. It is among others who have become multibaggers in FY23.
Other prominent stocks that turned multibaggers in FY23 include K&R Rail Engineering, Axita Cotton, Shilchar Technologies, Mufin Green Finance.