Those investing in ₹ 83 shares made huge profits, got 228.80% returns – shares of shilpa medicare ltd surged 12% after the rights issue announcement

New Delhi: Today, the effect of the boom in the stock market can be seen on the shares of Shilpa Medicare Ltd. The shares of Milash Pharma Company have seen a jump of 12% today. The pharmaceutical company specializing in the development, manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms (FDFs) has seen a significant increase in value. Shilpa Medicare stock rose 12% to hit an intraday high of Rs 275.70 per share. And the previous closing price was Rs 246.15. Currently, the shares are trading at Rs 271.55 per share, showing a gain of 10.32%. The rally in Shilpa Medicare shares came after the company announced that it will issue a resolution plan to its existing shareholders in its meeting held on June 23. has been approved to issue equity shares on rights basis. The offer size of the issue is expected to be up to Rs 325 crore. After this announcement, there has been a tremendous rise in the shares.
The record date for eligible shareholders will be announced later. The Board has also set up a committee called the ‘Rights Issue Committee’ to determine the detailed terms and conditions of the issue, such as rights entitlement ratio, issue price, payment schedule, record date and other relevant matters. This includes the appointment of intermediaries and the filing of necessary regulatory documents.

Shilpa Medicare Ltd has registered its presence at the global level. The company’s products reach 65 countries. The market cap of the company has reached Rs 2,300 crore. The trading volume of Shilpa Medicare shares traded above average by 3.49 times on the Bombay Stock Exchange (BSE). Shilpa Medicare has given multi begger returns to the investors in the last one decade. This share of Rs 83.85 reached Rs 275.70. The company’s stock has achieved a growth of 228.80%. Investors should keep an eye on this small cap pharma stock.

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