Share Market News: Remedium Lifecare Shares in Focus Amid Rs 200 Crore Fund Raising Buzz

In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory while Shanghai quoted lower.

In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory while Shanghai quoted lower. Published: July 3, 2024 2:27 PM IST By Shares of Remedium Lifecare are in focus on Wednesday as the company has informed exchanges that its board will meet on July 8 to evaluate and approve the proposal to raise funds of up to Rs 200 crore. The counter opened gap up at Rs 81.50 against the previous close of Rs 78.30 on the BSE. It further surged to hit the day’s high of Rs 86.50. Around 11:30 AM, the counter held firmly in the green and was trading at Rs 80.22 apiece. As many as 18 lakh shares of the company changed hands around the same time. “To evaluate and approve the proposal to raise funds up to Rs. 200,00,00,000/- (Rupees Two Hundred Crores Only) by way of issuance of equity shares, convertible securities, or other eligible instruments to Qualified Institutional Buyers (QIBs) to finance the acquisition of Good Manufacturing Practices (GMP) assets in the Active Pharmaceutical Ingredients (API) and Intermediates space, as well as the acquisition of technology, Intellectual Property (IP), including US Drug Master File (USDMF), Certificate of Suitability to the Monographs of the European Pharmacopoeia (CEP), tech packages, and other relevant assets,” the company said. Meanwhile, equity benchmark indices started the trade on an optimistic note on Wednesday, with the Sensex breaching the historic 80,000-mark for the first time ever and the Nifty hitting its fresh lifetime high, amid heavy buying in bank stocks and firm global market trends. The 30-share BSE Sensex jumped 597.77 points to hit a new lifetime high of 80,039.22. The Nifty climbed 168.3 points to hit a fresh record peak of 24,292.15. Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers. Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards. In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory while Shanghai quoted lower. For breaking news and live news updates, like us on or follow us on and . Read more on Latest on . Topics