Remedium Lifecare may acquire manufacturing facility in Hyderabad

Remedium Lifecare, which is mainly engaged in the pharmaceutical sector, has informed exchanges that its board of directors will meet soon to consider the acquisition of a manufacturing facility near Hyderabad. According to an exchange filing, the facility produces intermediates for the pharmaceutical industry.

The company also said that the trading window will be closed from today and shall remain closed until 48 hours after the declaration of the outcome of the meeting. 

Meanwhile, shares of the company traded ex-date for stock split or sub-division. The stock opened upside at Rs 132.95 apiece on the BSE and surged around 10 per cent on to touch an intraday high of Rs 142.30 per share. The counter had closed at Rs 129.39 per share in the previous session.

Earlier, the board approved the sub-division of shares in the ratio of 5:1, meaning each stock having a face value will be split into five equity shares of Re 1 each.