Stock market today: Remedium Lifecare share price jumps 11% after this order book update

Small-cap stock Remedium Lifecare share price witnessed strong buying in the early morning session. The small-cap company with a market cap of ₹588 crore today declared winning overseas orders worth up to ₹$25 million. This spurt strong buying in the scrip as Remedium Lifecare share price today opened with an upside gap at ₹14.50 apiece and touched an intraday high of ₹16 per share, recording an intraday rise of more than 11 percent against its Friday's close price of ₹14.40. However, the small-cap stock failed to sustain at higher levels and retraced from an intraday high after the profit-booking trigger.

Remedium Lifecare news

Remedium Lifecare Limited informed the Indian stock market exchanges about the order book, saying, “We are pleased to announce that Remedium Lifecare Ltd. has entered into a strategic agreement with Angel Partners, Ltd., UK, effective July 29, 2024, to acquire technology for manufacturing lithium carbonate in India. We signed an annual Supply Agreement with Alfa Chemicals and Solvents Ltd., Turkey, effective the same date. Supplies of technical-grade lithium carbonate will commence in the January-March 2025 quarter. The supplies for CY 2025 are valued at USD 20-25 million. For electric vehicles and portable electronics, technical-grade lithium carbonate is used in lithium-ion batteries.”

"Remedium has partnered with various contract manufacturers to produce technical-grade lithium carbonate using the technology from Angel Partners, Ltd," the small-cap stock added.

Remedium Lifecare share price news

The small-cap stock was in the news at the beginning of July 2024 as the stock traded ex-bonus on 5th July 2024. The small-cap company declared the issuance of bonus shares in a 3:1 ratio to the eligible shareholders, which means there arethree bonus shares for each share held on the bonus shares record date.

Before that, Remedium Lifecare shares traded ex-split on 23rd February 2024. The small-cap company declared a stock split in a 1:5 ratio. So, for those who held Remedium Lifecare shares at the beginning of 2024 and are still holding this small-cap stock, their shareholding in the stock has risen 20 times [(3 + 1) x 5].

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