Indoco Remedies zooms 20% on strong revenue from international business

The company's export formulations grew 65.6 per cent YoY to Rs 132 crore, driven by strong growth in regulated and emerging markets

Shares of Indco Remedies zoomed 20 per cent to Rs 405 on the BSE in intra-day trade on Wednesday on the back of huge volumes after the pharmaceutical company reported a strong revenue growth from its international business in the March quarter (Q4FY21).

The stock surpassed its previous high of Rs 377.15, touched on May 6, 2021. It was trading close to its record high level of Rs 413, hit on May 25, 2015. The counter has seen huge trading volumes with a combined 3.9 million equity shares changing hands on the NSE and BSE. An average sub 400,000