Shares of Honasa Consumer, the parent company of Mamaearth, surged by 10% to hit the upper circuit at Rs 251.5 in Thursday’s trade, driven by strong buying interest. On the NSE, a total of 17.6 lakh equity shares worth Rs 43.94 crore were traded during the session.
The rally follows a period of significant pressure on the stock. Honasa Consumer’s share price had declined nearly 40% over the past month and over 50% in the last three months, even dropping below its IPO price of Rs 324 earlier this month.
The sudden recovery indicates a possible shift in sentiment, though the stock remains well below its listing price, reflecting cautious optimism among investors.
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