The stock opened the day’s trading 3.14% up at INR 235.90 against the previous close of INR 228.70
As many as 17.59 Lakh shares of Honasa traded hands today
The company’s market capitalisation stood at INR 8,170.95 Cr till the stock reached its upper circuit
Shares of Mamaearth’s parent Honasa Consumer surged as much as 10% to hit the upper circuit at INR 251.55 today (November 28).
This spike in the company’s shares was in tandem with a 0.86% or 178.31 points positive upsurge in the fast moving consumer goods (FMCG) segment at 21,383.03 at 10:11 AM.
The stock opened the day’s trading 3.14% up at INR 235.90 against the previous close of INR 228.70.
As many as 17.59 Lakh shares of Honasa traded hands today. The company’s market capitalisation stood at INR 8,170.95 Cr till the stock reached its upper circuit.
It is pertinent to note that the company’s stock has mostly maintained a downward trajectory after it slipped into the red in the September quarter of the financial year 2024-25 (Q2 FY25), posting a consolidated net loss of INR 18.6 Cr.
The shares have already reached their all-time low mark twice this month on November 19 and November 22.
Brokerage firm Emkay also reflected its pessimistic stance on the stock, double downgrading Honasa’s shares to “sell” from its earlier rating of “buy” and cutting its price target by half to INR 300 from INR 600 earlier.
(The story will be updated soon)
