Honasa Shares Surge 7% During Intraday

Honasa Shares Fall Over 3% During Intraday

SUMMARY

Honasa Consumer’s shares surged 6.9% to INR 235.70 during the intraday trading on the BSE today

The stock pared some gains to rise 3.2% at INR 227.70, as of 03:31 PM, compared to its previous close of INR 220.55

The company’s market capitalisation currently stands at INR 7,396.24 Cr

Shares of Mamaearth parent Honasa Consumer surged 6.9% to INR 235.70 during the intraday trading on the BSE today (February 1).

The stock pared some gains to rise 3.2% at INR 227.70, as of 03:31 PM, compared to its previous close of INR 220.55 from January 31, on the BSE.

The company’s market capitalisation currently stands at INR 7,396.24 Cr.

The stock gain comes after Mint reported that ICICI Prudential has raised its stake in Honasa to 7.6%.

As per Honasa Consumer’s shareholding pattern on the BSE, ICICI Prudential’s stake in the company was at 7.36% in the quarter ending December.

This too was an increase from its 6.04% stake in the company during the September quarter.

As of the filing on the quarter ending December 2024, ICICI Prudential held 2.39 Cr shares in the company.

ICICI Prudential previously raised its stake in the company to 5.48% in the September quarter, from 3.81%.

It is to note that the parent of Mamaearth marked a fresh all-time low yesterday, after it dipped by 6.10% to INR 205.05 apiece during the intraday trading on BSE. However, it covered some of its loss by ending the session in green at INR 220.55, after ending five preceding sessions in red.

The stock surge comes as a relief at a time when the company has been strained in the past year, as it was troubled by its offline distribution and lost the unicorn tag.

On the financial front, Honasa Consumer posted a consolidated net loss of INR 18.6 Cr in the quarter ended September 2024 (Q2 FY25). The company reported a net profit of INR 29.4 Cr in the year-ago quarter and INR 40.3 Cr in the preceding June quarter.

Its revenue from operations declined nearly 7% to INR 461.8 Cr during the quarter under review from INR 496.1 Cr in Q2 FY24.

Updated at 05:44 PM