Remedium Lifecare Shares Hit Upper Circuity As Board To Consider Acquisition of UAE-based Company

Shares of Pharmaceutical company Remedium Lifecare hit a 5 per cent upper circuit on Wednesday as the company has informed exchanges that its board will meet soon to consider the acquisition of Airowater Global Trading LLC, UAE.
The UAE-based company is in the business of Water Injectables for Pharma Production. The board will also consider foreign currency bonds issue and the acquisition of a company during a meeting scheduled next month.
“The meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 3 September, 2024, at 01:00 PM,” the company said in a stock exchange filing. The counter has been gaining for the last 2 days and has risen 10.17 per cent in the period. The counter today opened at Rs 10.40 on the BSE, a gain of around five per cent from the previous close of Rs 9.91 on the BSE.
Meanwhile, stock market benchmark indices turned flat after beginning the trade on a positive note on Wednesday amid profit-taking in line with weak trends in Asian peers. The 30-share BSE Sensex climbed 128.81 points to 81,840.57 in early trade. The NSE Nifty went up by 30.4 points to 25,048.15.
However, soon both the benchmark indices faced profit-taking and were trading lower. The BSE benchmark traded 42.46 points lower at 81,682.57 while the Nifty quoted 21.60 points down at 24,996.15. Among the 30 Sensex firms, Mahindra & Mahindra, Power Grid, Tata Motors, Titan, Sun Pharma, ITC and Reliance Industries were the biggest gainers.
Bajaj Finserv, JSW Steel, Tata Steel, Tata Consultancy Services, HCL Technologies and Maruti were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower. The US markets ended with marginal gains on Tuesday.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)