Mamaearth Declines To Over One-Week Low After Large Trade
At least 65 lakh shares of the company changed hands in a bulk deal at Rs 439.15 apiece, according to data from BSE. The trade's total value was Rs 285.28 crore.
Shares of Honasa Consumer Ltd., the parent of Mamaearth The Derma Co., Aqualogica, and other brands in the beauty and personal care sectors, tumbled 7.01% on Tuesday after a large trade.
At least 65 lakh shares of the company changed hands in a bulk deal at Rs 439.15 apiece, according to data from BSE. The trade's total value was Rs 285.28 crore.
The buyers and sellers of the stake were not known immediately.
Shares of the company fell as much as 7.01% during the day to Rs 425.85 apiece on the NSE, the lowest since May 31. It was trading 3.70% lower at Rs 441 apiece, compared to a 0.35% advance in the benchmark NSE Nifty 50 as of 1:11 p.m.
The stock has risen 29.84% in the last 12 months. The total traded volume so far in the day stood at 21 times its 30-day average. The relative strength index was at 56.6.
Seven out of the nine analysts tracking Honasa Consumer have a 'buy' rating on the stock, one recommends a 'hold' and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 15%.
