Indoco Remedies hits 8-month high on hopes of margin boost; stock surges 7%

Shares of Indco Remedies soared 7 per cent to hit an eight-month high of Rs 414.85 in Thursday’s intra-day trade, on hopes of margin improvement going ahead.

The stock of pharmaceutical company traded at its highest level since March 2022. In the past one week, it rallied 17 per cent, as against 0.35 per cent rise in the S&P BSE Sensex. Earlier, the stock had hit a 52-week high of Rs 459 on January 3, 2022.

Indoco manufactures and markets branded formulations and APIs for domestic and export markets. In domestic formulations, the company serves a range of