Shares of Venus Remedies Ltd gained over 4% in early trade today after the pharma firm said it received the ‘Three Star Export House’ certificate from the government of India.
Venus Remedies shares climbed 4.38% to Rs 274.80 against the previous close of Rs 263.25 on BSE. Market cap of the firm rose to Rs 363.65 crore. Total 452 shares changed hands amounting to a turnover of Rs 1.79 crore. Venus Remedies shares have risen 51 per cent since the beginning of this year and gained 32 per cent in one year. The stock hit a 52-week low of Rs 145 on February 8, 2023 and a 52 week high of Rs 302 on October 17, 2023. Venus Remedies has a one-year beta of 0.3, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Venus Remedies stock stands at 56.1, signaling the stock is trading neither in the oversold nor in the overbought zone. Venus Remedies shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
“The ‘Three Star Export House’ certificate is bestowed upon companies who have demonstrated consistency in their export growth and have contributed significantly to the country's foreign trade. It recognizes Venus Remedies Limited as a leader in lnternational trade and a valuable contributor to lndia's economy, serving as a validation of the company's commitment to providing high-quality pharmaceutical formulations globally,” the company said in a communication to bourses.
Panchkula-based Venus Remedies is among the 10-leading fixed-dosage injectable manufacturers in the world. The firm has a commercial presence in 70 plus countries with a portfolio of 75 products spread over Europe, Australia, Africa, Asia-Pacific, Commonwealth States, the Middle East, Latin America and the Caribbean region.
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