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Shares of Honasa Consumer, a company that manufactures and sells MamaEarth products, have seen a rocket-like rise. On Friday, the company’s stock rose over 15 percent to Rs. reached 487. Shares of Honasa Consumer hit a new 52-week high on Friday. Shares of Honasa Consumer have gained 38.31% in the last 2 days. The rise in the company’s shares comes after a massive profit in the September quarter.
The company made a profit of around 30 crore rupees.
In the September quarter of the current financial year, Honasa Consumer posted Rs. 29.4 crores profit has been made. The company’s profit has increased by 93% compared to the September quarter of last year. Honasa Consumer in September quarter last year had Rs. 15.2 crore profit was made. In the July-September 2023 quarter, the company’s revenue also grew by 21% to Rs. 496 crore has been done. Honasa Consumer’s revenue in the September quarter of last year was Rs 410 crore.
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With a buy rating of Rs. 520 target
Foreign brokerage house Jefferies has recently given a buy rating to the shares of Honasa Consumer. Brokerage house Jefferies paid Rs. A target of 520 has been given. Shares of Honasa Consumer have risen more than 40% since the IPO issue price. The shares of Honasa Consumer were allotted at Rs 324 in the IPO and now on November 24, the company’s shares have reached Rs 487. If we talk about the listing of the shares of the company, the shares of Honasa Consumer were listed in the exchange at Rs 324.
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