VeerHealth secures a new order from Apollo Healthco Limited, Complete details inside
The stock has experienced significant buying activity, yielding multibagger returns of more than 122% in the last one year.
Today, the shares of VeerHealth Care Limited touched an upper circuit of Rs 22.86 apiece on BSE, with the company’s current market capitalization standing at Rs 45.20 crore.
Share Performance:
On Tuesday, the stock opened at Rs 22.86, with the previous closing being Rs 21.78. The 52-week high and low are Rs 30.10 and Rs 9.28, respectively.
Recent Development:
VeerHealth Care Limited announced a new order from Apollo Healthco Limited. The order entails the production and delivery of ‘AP Essentials Advanced Hair Care Shampoo’ and ‘AP Essentials Advanced Hair Care Conditioner,’ expanding VeerHealth’s product range supplied to Apollo Healthco.
This significant order, valued at Rs 57.36 Lakh, marks a major milestone for VeerHealth, representing its largest order secured during the end of Q4 FY24. It underscores the company’s commitment to expansion and financial growth, showcasing its dedication to reaching its objectives and enhancing its position within the industry. Additionally, VeerHealth anticipates continuous orders from Apollo Healthco Limited on a monthly basis from FY24-25 onwards.
About the Company:
Established in 1992, Veer Healthcare Ltd, previously known as Niyati Leasing Ltd, specializes in trading, manufacturing, and marketing research-based Ayurvedic medicines.
Shareholding Pattern:
The shareholding pattern of the company reveals an intriguing narrative, particularly with the promoters gradually reducing their stake since December 2023, currently standing at 30.76%. The remaining 69.24% is held by the public, indicating a significant shift in ownership dynamics.
Notably, despite this decrease in promoter holding, there are no pledges against the shares, assuring investors. However, a high public holding can bring certain challenges. For instance, increased volatility may be observed due to the larger number of shareholders, potentially leading to more pronounced market fluctuations. Additionally, companies with dispersed ownership structures, as seen with high public holding, might be more susceptible to hostile takeover attempts, presenting a potential disadvantage.
Furthermore, the stock has experienced significant buying activity, yielding multibagger returns of more than 122% in the last one year.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.