This multibagger pharma stock rallied more than 1,600% in just two years

Shares of little-known pharma counter, Medico Remedies, have been on a bull run recently as the stock has turned multibagger in the last one year and in the last three-year period. The rally in the stock did not take a hiatus even after the corporate action. Shares of Medico Remedies were split in a 1:5 ratio as the stock turned ex-split on March 16. Each share of the company, with a face value of Rs 10, each, was divided into five shares with a face value of Rs 2, each. The stock company had issued bonus shares in November 2021 in a 3:1 ratio. Shares of Medico Remedies hit a 52-week high of Rs 89 on 11 April 2023. The scrip had settled at Rs 86.67 on Thursday, the previous trading session. The stock has rallied as much as 16 per cent after the stock split, while it has gained over 35 per cent in the year 2023 so far. The pharma is commanding a market capitalization of Rs 730 crore currently. However, shares of Medico Remedies have turned multibagger in the long run. The stock has zoomed more than 1,600 per cent from its lows at Rs 4.86 in April 2021. The stock has surged more than 260 per cent in the last one year, while has rallied over 200 per cent in the last six-month period. Mumbai-based Medico Remedies is a pharmaceutical formulation manufacturing company with manufacturing and marketing capabilities in formulation with a focus on anti-infective, Beta-Lactams. Medico Remedies offers products such as antibiotics, vitamins and supplements, anti-ulcer drugs, dry syrup, capsules, ointments and creams. Medico Remedies markets its products in more than 35 countries worldwide. Its revenue was $17 million in the trailing twelve months.