Pharma stock under ₹60 jumps 5% after receiving order from worth ₹1.9 Mil from Dominican RepublicPharma stock under ₹60 jumps 5% after receiving order from worth ₹1.9 Mil from Dominican Republic

Introduction:

Leading Pharma company has secured a government supply order worth USD 1.9 million from the Dominican Republic’s PROMESE/CAL to provide essential medicines including tablets, capsules, and dry syrups within three months.

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Share price movement of Medico Remedies:

On April 8, 2025, Medico Remedies Ltd opened at ₹58.50, up 4.75% from its previous close of ₹55.85. The stock touched a high of ₹58.94 and a low of ₹54.02. By 3:21 PM, it traded at ₹58.37, reflecting a 4.51% gain, with a market cap of ₹484.38 crore.

Medico Remedies Secures $1.9 Million Export Order:

Medico Remedies Ltd has received an international government supply order worth USD 1.9 million (₹16.31 crore) from PROMESE/CAL, the centralized medical procurement authority in the Dominican Republic.

The order involves supplying essential pharmaceutical products—tablets, capsules, and dry syrups—intended for the public healthcare sector. The company will execute the complete supply within three months as per the terms of the contract.

PROMESE/CAL, responsible for the procurement and logistics of medicines in the Dominican Republic, awarded this contract with no promoter-related interest involved. The development marks a significant boost to Medico Remedies’ international presence.

Stock performance of Medico Remedies for Period of 1 week, 6 months, and 1 year:

Medico Remedies Ltd delivered a 5.07% return over the past week and gained 16.7% in the past six months. The stock also registered a 16.7% return over the past year.

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Shareholding pattern of Medico Remedies:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	66.80%	73.30%	73.30%
FII	0.40%	0.20%	0.20%
DII	0.80%	1.00%	1.00%
Public	32%	25.50%	25.50%

About Medico Remedies:

Medico Remedies Ltd (NSE: MEDICO) is a pharmaceutical company focused on manufacturing and marketing formulations across therapeutic segments including antibiotics, antimalarials, cardiovascular drugs, supplements, ointments, and more. It was incorporated in 1994.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.