Shares of Mamaearth jumped almost 15% during intraday trading today (August 26) to reach an all-time high of INR 528.9 apiece on the BSE
While the stock hit a new lifetime high, the company’s valuation exceeded $2 Bn
The buying interest in the stock rose after the NCLT passed an order pertaining to the scheme of amalgamation between Honasa Consumer Limited, the parent company of Mamaearth, and its two subsidiaries
Shares of Mamaearth
jumped almost 15% during intraday trading today (August 26) to reach an all-time high of INR 528.9 apiece on the BSE amid a significant surge in investor interest and market engagement.
The stock opened trading session at INR 460.2 and was trading 10.4% at 518 apiece on the BSE at 11:11 AM.
More than 1.1 Cr Mamaearth shares changed hands on the BSE and the NSE today, significantly higher than the 20-day average volume of 7.65 Lakh shares.
While the stock hit a new lifetime high, the company’s valuation exceeded $2 Bn. At the time of publishing this article, Mamaearth was valued at INR 16,803.95 Cr (about $2.004 Bn)
The buying interest in the stock rose after the Chandigarh bench of the National Company Law Tribunal (NCLT) passed an order pertaining to the scheme of amalgamation between Honasa Consumer Limited, the parent company of Mamaearth, and its two subsidiaries — Just4Kids Services Private Limited and Fusion Cosmeceutics Private Limited.
(The story will be updated soon)
