Penny Stock: Small-cap stock Remedium Lifecare share price (Remedium Lifecare Ltd) witnessed strong buying during trading today on Monday. The company's shares climbed up to 12% today and reached an intraday high of ₹ 16. A large foreign order is behind this rise in shares. The small-cap company with a market cap of ₹ 588 crore has today announced winning foreign orders worth up to ₹ 25 million. Since then, there has been buying in the shares of Remedium Lifecare.

What is the detail

Let us tell you that Remedium Lifecare Limited, while informing the Indian stock market exchanges about the order book, said, “We are happy to announce that Remedium Lifecare Limited has entered into a strategic agreement with Angel Partners, Ltd., UK, effective from July 29, 2024, to acquire technology for manufacturing lithium carbonate in India. We signed an annual supply agreement with Alfa Chemicals and Solvents Ltd., Turkey. The supply of technical-grade lithium carbonate will start in the January-March 2025 quarter. The value of supply for CY 2025 is US$ 20-25 million. For electric vehicles and portable electronics, technical-grade lithium carbonate is used in lithium-ion batteries.

Company shares

The small-cap stock was in focus in early July 2024. The stock had traded ex-bonus on July 5, 2024. The small-cap company had announced the issuance of bonus shares to eligible shareholders in a 3:1 ratio. That is, 3 shares of the company were given to each one. Earlier, Remedium Lifecare shares had traded ex-split on February 23, 2024. The small-cap company had declared a stock split in a 1:5 ratio. Therefore, for those who held Remedium Lifecare shares in early 2024 and are still invested in this small-cap stock, their exposure to this stock has increased 20 times.