Multibagger stock, Sudarshan Pharma declares 1:10 stock split after 400% rally YTD

Stock Market Today: Multibagger stock, Sudarshan Pharma Industries Ltd has declares 1:10 stock split after 400% rally YTD

Sudarshan Pharma Industries Share price has gained 412% year to date giving Multibagger returns to the investors. The Sudarshan Pharma Industries share price opened at ₹427.45 on the BSE on Tuesday , slightly higher than previous close of ₹415. The Sudarshan Pharma Industries share price thereafter scaled intraday low of ₹405 too though ₹427.45 remained its intraday high.

Sudarshan Pharma Industries through its release on the exchanges on Tuesday 5 November 2024, announced that post receiving approval from shareholders , the company has submitted consolidated report on the result of remote e-voting done for the Postal Ballot in respect of the proposed resolution. the same is for the Sub-division of the equity shares of the Company from face value of Rs.10/- each to face value of Rupee 1/- per share.

Sudarshan Pharma Industries now has submitted Scrutinizer’s Report on voting done through remote e-voting for the Postal Ballot concluded on Monday, November 03, 2024 at 5:00 P.M.

Sudarshan Pharma Industries also said that Alteration of capital clause of the Memorandum of Association of the Company also has been approved.

The remote e-voting period that commenced on Saturday, 5" October, 2024, at 9:00 hours IST , concluded on Sunday, 3" November, 2024 at 17:00 hours IST and the NSDL remote e-voting platform was disabled thereafter.

In August, the company established a subsidiary, Sudarshan Maven Pharma, focusing on the development and manufacturing of a wide range of pharmaceuticals, active pharmaceutical ingredients, and intermediates. The company also acquired a 100% stake in Ratna Lifesciences Pvt Ltd, which will facilitate Sudarshan Pharma’s entry into the oncology business.

Additionally, the company is in the process of acquiring adjacent land in the Maharashtra Industrial Development Corporation (MIDC) area to expand its overall plant capacity. This land acquisition is expected to significantly boost Ratna Lifesciences' annual turnover, increasing it by approximately ten times from its current capacity.

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