Upper Circuit Stock: Tuesday 19th November, Akums Drugs shares hit an upper circuit of 5% today. With this upper circuit, the stock has broken the 10-day losing streak. During these 10 days, the stock had fallen by 35%.

The company informed the exchanges on Tuesday that the company had entered into an exclusive master sales agreement with Caregen Co. Ltd. It is a leading South Korean company in the nutraceuticals segment. As per the agreement, Akums Drugs has been granted exclusive rights to sell a range of Caregen products in India during the term of the agreement.

Akums Drugs will also package, market and sell Caregen's wholesale products under Caregen's trademarks or Akums' trademarks or the trademarks of Akums' customers.


What is the company's work?
Caregen is a global biotechnology company based in South Korea, a global leading pioneer in peptide research and development. It has commercialized the unlimited expansion potential of its patented peptides.

In a conversation with CNBC-TV18 on November 12, Sandeep Jain of Akums Drugs said that weakness in API prices has impacted earnings growth during the quarter. Earnings growth will remain almost stable for the full financial year. Jain also said that the company will maintain its 15% EBITDA margin for the contract infrastructure (CDMO) business. After listing, the stock made a high of ₹ 1,175.9, after which, it entered a correction zone.