Multibagger pharma stock hits a 52-week high after an over 550% rally in 1 year. Do you own?

Multibagger stocks: Shares of Sudarshan Pharma Industries rose 5 per cent to a fresh 52-week high of ₹53.50 in intraday trade on the BSE on Tuesday, January 7. The company announced that its board would discuss a fundraising plan in its next meeting on Friday, January 10. The small-cap stock opened at ₹53.49, up from its previous close of ₹50.98, and climbed 4.94% to reach its 52-week high of ₹53.50 on the BSE, just below its 5% upper price band of ₹53.52. Around 10:55 AM, the stock traded 2.60 per cent higher at ₹52.30 on the BSE.

After market hours on Monday, January 6, the multibagger pharma stock announced that its board of directors would meet on Friday, January 10, to assess the proposal for fundraising through the issue of stocks and convertible instruments.

"The meeting of the board of directors of Sudarshan Pharma Industries is scheduled to be held on Friday, January 10, 2025, to evaluate the proposal for raising funds to augment the financial resources of the company by way of issue of securities, convertible instruments, through any permissible method as may be decided by the board, subject to such regulatory and statutory approvals," the company said.

Sudarshan Pharma Industries share price trend

Sudarshan Pharma's share price has been in the green for the last four consecutive sessions, including Tuesday. On a monthly scale, the stock has been in the green since November last year, despite weak market sentiment.

The small-cap stock hit its 52-week low of ₹5.82 on June 4 last year on the BSE. Over the last year, the stock has soared over 550 per cent.

On November 22 last year, the stock underwent a split, dividing each ₹10 share into 10 shares valued at ₹1 each.

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