Welcure Drugs & Pharma shares hit the upper circuit limit of 5 percent in July 1 trading session on securing two export orders worth Rs 85.6 crore from Giant Exim and Ravina International.
Shares of Welcure Drugs & Pharmaceuticals on Tuesday rose to an intraday high of Rs 14.28 per share on the NSE, up 5 percent - it's highest tradeable limit for the day.
The company in a statement said, that on June 30, the company received a Rs 42.8 crore order each from Giant Exim and Ravina International for procurement and consolidation of mycorrhizal inoculant (EXW).
"The orders will contribute fee-based revenue, with no inventory or logistics risk to the company," it added.
The company is in advanced discussions with additional international buyers for similar export sourcing mandates and expects to conclude further orders worth Rs 20 crore or more within the ongoing quarter, Welcure said.
It recently secured a Rs 517 crore global sourcing mandate from Thailand-based Fortune Sagar Impex Company. "The company remains focused on expanding its fee-based export portfolio while maintaining its debt-free capital structure," Welcure stated.
(PTI Inputs)
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