Remedium Lifecare share price hits 20% upper circuit ahead of stock split record date

livemint.com:

1:5 stock split: Shares of Remedium Lifecare Ltd is one of the multibagger stocks that the Indian stock market has delivered in recent years. The multibagger stock has risen to the tune of 1700 percent in the last one year. However, it seems that the multibagger stock still possesses some upside potential.

Remedium Lifecare share price today opened upside and went on to touch an intraday high of ₹700.10 apiece on BSE. While climbing to this intraday high, the multibagger stock touched a 20 percent upper circuit. The board of directors of Remedium Lifecare Ltd has already declared that the stock will be subdivided in a 1:5 ratio, which means one stock will be divided into 5 shares.

The company board also fixed a stock split record date on 23rd February 2024. In its latest exchange communication, Remedium Lifecare Ltd informed about the stock split record date saying, "In connection with the above subject matter, we furnish hereunder the details of the Record Date for the following purpose as mentioned — Friday, 23rd February 2024 | Sub-division of Face Value of Equity Shares from ₹5/- each to Face Value of Re. 1/- each." On 14th February 2024, the Remedium Lifecare Ltd board considered and approved its unaudited Q3 results for FY24.

In this third quarter results for the current fiscal, the total income of the company stood at ₹18,482.94 crore, which stood at ₹1,765 crore in the corresponding period of the previous financial year. This means, the company logged around 950 percent YoY rise in total income. The company also declared its numbers in the first nine months of the current fiscal.