Small-cap stock Balaxi Pharma jumps 7% after this overseas business update

livemint.com:

Stock market today: Balaxi Pharma shares witnessed strong buying interest among Indian stock market bulls. The small-cap pharma stock opened upside at ₹120.90 per share and touched an intraday high of ₹129.45 apiece, recording an intraday high of over 7 percent during Tuesday deals.

During the opening bell, the small-cap stock was one of the newsmakers as the company had informed Indian exchanges about the breakthrough in overseas business.The small-cap pharma company is successfully developing new sales channels through direct sales to hospitals in Angola. It has made a notable entry into the tender business for pharmaceutical formulations in the Latin American markets.In a strategic move to strengthen its footprint in the African continent, Balaxi Pharmaceuticals has strategically tied up with approximately 50 hospitals across Angola and is working towards having tie-ups with more than 150 hospitals across the country.

This expansion into the hospital business not only marks a significant milestone for the company but also demonstrates our long-term vision and commitment to the African market. It allows us to directly supply high-quality pharmaceutical products to healthcare providers in the region, enhancing the availability of essential medicines in Angola and positioning Balaxi as a key player in the country's healthcare sector.Balaxi Pharmaceuticals has also made a significant entry into the tender business by securing a tender in a key Latin American market.

This tender, valued at USD 0.8 million, marks the company's first foray into the large tender business in Latin America. This achievement underscores Balaxi's growing international presence and its capability to meet the stringent requirements of large-scale