Remedium Lifecare shares reach the highest circuit on ex-date | View the most important details here

Just two months earlier, the stock had traded ex-bonus on July 28, 2023 for the issuance of bonus shares at a ratio of 9:5.

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Fair today: Remedium Lifecare’s share price traded ex-split on Friday following the announcement of the share split at a ratio of 1:5. The company’s share price opened at ₹ 132.95 per share on the BSE today and subsequently touched an intraday high of ₹ 142.30 per share, an intraday high of 10 percent compared to the previous closing price of ₹ 129.39 per part. This comes after the division of the shares in a ratio of 1:5.

Climbing to this intraday high, the small cap stock hit an upper limit of 10 percent within a few minutes of the opening bell.

Remedium Lifecare Ltd informed the Indian stock exchanges about the acquisition and said: “In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the meeting of the Board of Directors of The company is expected to take place on Thursday, March 7, 2024, among other things to consider the acquisition of a production facility near Hyderabad, where intermediates for the pharmaceutical industry are produced.

Remedium Lifecare: Here are some of the key details

Remedium Lifecare’s share price took center stage following the company’s latest announcement.
Notably, Remedium Lifecare has stated that it will consider acquiring a pharmaceutical company’s manufacturing facility at its upcoming board meeting on March 7, 2024.
This is not the first time that Remedium Lifecare Ltd has opted for the share subdivision.
The pharmaceutical shares had traded ex-split on September 1, 2023 for a 1:2 stock split.
Just two months earlier, the stock had traded ex-bonus on July 28, 2023 for the issuance of bonus shares at a ratio of 9:5.

The pharmaceutical company had set the record date for the stock split as February 23, 2024 and said: “In connection with the above subject, we provide below the details of the record date for the following purpose as stated below: Record Date – Friday, February 23, 2024; Purpose – Subdivision of face value of shares starting from Rs. 5/- each up to face value of Re. 1 each.”

Disclaimer: The article is for information purposes only and not for investment advice.