Nureca shares hit all-time low after promoter sells stake

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Shares of Nureka Limited today hit an all-time low after the firm’s promoter Payal Goyal sold a part of his stake through a bulk deal on November 28. Close at Rs 538.35 on BSE. The stock opened at Rs 536 on BSE.

The stock has declined by 17.69% in last 6 days. The Microcap stock also gained 4.66% to touch an intraday high of Rs 563.45 on the BSE. The stock has declined 64.16% in one year and 73.57% this year. A total of 0.39 lakh shares of the firm changed hands on BSE for a turnover of Rs 2.07 crore. The stock has fallen 32.18% in one month.

The market cap of the firm fell to Rs 531.01 crore on BSE. Payal Goyal sold 55,863 shares of the wellness products firm at Rs 546.04 in a bulk deal on NSE. The transaction was of Rs 3.05 crore.

In the quarter ended September, Goyal held 35% stake or 34.99 lakh shares in the company.

Five promoters held 70% stake or 69.99 lakh shares in the firm at the end of Q2. On the other hand, public shareholders held 30% stake or 3 lakh shares at the end of September quarter.

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The firm reported a loss of Rs 2.89 crore in the second quarter as against a profit of Rs 5.43 crore in the September quarter of the previous financial year. Sales in the last quarter declined by 21.64% to Rs 36.78 crore as against Rs 46.94 crore in the second quarter of the previous fiscal.

Ebitda for the second quarter stood at Rs 3 crore (loss). In the first half of this financial year, the operating revenue fell 63% to Rs 62.3 crore as compared to Rs 1,66.4 crore in H1’FY22. Overall, demand declined in H1 FY23 as compared to the same period last year, which saw a surge in demand due to COVID-19.

Nureca is engaged in the business of home healthcare and wellness products. The main products/services that the company manufactures include Chronic Disease Products, Orthopedic Products, Mother and Child Products, Nutrition Supplements and Lifestyle Products.

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