Synopsis:

Medico Remedies Limited received a $1.78 million order from Turkmenistan’s Ministry of Health to supply tablets, capsules, and dry syrups, boosting its international export prospects significantly.

Known for manufacturing pharmaceutical tablets and dry syrups, the company has secured order from Turkmenistan’s Ministry of Health and Medical Inquiry. This development, which triggered a sharp market reaction, is expected to significantly boost its export business and revenue prospects.

Medico Remedies Limited’s stock, with a market capitalisation of Rs. 423 crores, rose to Rs. 51.54, hitting the intraday upper circuit, up 5 percent from its previous closing price of Rs. 49.09. Furthermore, the stock over the past year has given a return of 4.04 percent.

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