Stock market today: Remedium Lifecare share price hits upper circuit after 1:5 stock split
- Stock market today: The pharma company has declared to consider a proposal for the acquisition of a manufacturing facility of a pharma company in its board meeting scheduled on 7th March 2024
Stock market today: After the announcement of stock split in a 1:5 ratio, Remedium Lifecare share price traded ex-split on 23rd February 2024 i.e. today. After the subdivision of stocks in a 1:5 ratio, Remedium Lifecare share price today opened upside at ₹132.95 apiece on the BSE and went on to touch an intraday high of ₹142.30 per share, logging an intraday high of 10 percent against the previous close of ₹129.39 per share.
While climbing to this intraday high, the small-cap stock went on to touch a 10 percent upper circuit within a few minutes of the opening bell.
Remedium Lifecare news
Apart from the stock split, Remedium Lifecare share price was in focus after the latest announcement by the company. The small-cap company has declared to consider the acquisition of the manufacturing facility of a pharma company in its upcoming board meeting on 7th March 2024.
Remedium Lifecare Ltd informed Indian stock market bourses about the acquisition saying, "Pursuant to 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 scheduled to be held on Thursday, March 07, 2024 inter alia to consider acquisition of a manufacturing facility, Near Hyderabad, producing intermediates for the Pharmaceutical Industry."
Remedium Lifecare share split date
The pharma company had fixed stock split record date on 23rd February 2024 saying, "In connection with the above subject matter, we furnish hereunder the details of the Record Date for the following purpose as mentioned below: Record Date — Friday, 23rd February 2024; Purpose — Sub-division of Face Value of Equity Shares from Rs. 5/- each to Face Value of Re. 1/- each."
Remedium Lifecare stock split, bonus shares history
This is not the first time when Remedium Lifecare Ltd has gone for the stock subdivision. The pharma stock had traded ex-split on 1st September 2023 for a stock split in a 1:2 ratio. Just two months before, the stock had traded ex-bonus on 28th July 2023 for the issuance of bonus shares in a 9:5 ratio. This means nine bonus shares for every five shares held by the eligible shareholders of the company.
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