Indoco Remedies

The Stock has seen a tremendous run today. The stock can be bought at current levels with a target of Rs 415.

Today the stock has gained over 14 %. The total volume has crossed 50 thousand shares on NSE. Indoco Remedies has touched a 52-week high of Rs 369 on National Stock Exchange. The company stock is trading at a P/E of 46.

The company has recently informed the exchange that Mumbai High Court has passed the Composite Scheme of Amalgamation and Demerger.

Company has strong fundamentals and there may be good positive announcements from the Board of Directors soon. The AGM for Indoco Remedies is on 22, December, 2007. The Board has proposed a dividend of 65% or Rs 6.5 per share.