PremiumShares of digital health and wellness company, Nureca, hit 52-week low at ₹525 after the promoter sold 55,863 shares at ₹546 apiece
Shares of healthcare and wellness company Nureca hit a 52-week low after the promoter Payal Goyal sold 55,863 shares through bulk deal in open market at ₹546 a piece on November 29.
The company's stock opened at ₹536 on BSE, but saw selling pressure during the day and hit 52-week low of ₹525 on the bulk deal news. At 12 noon, Nureca shares were trading 0.62% lower at ₹535.0 on BSE.
The shares of the business-to-Consumer company were at a 52-week high on December 31, 2021 at ₹2,175. Since then the stock has been falling. The stock has fallen 287% so far in 2022.
It secured a net loss of ₹2.78 by generating a net revenue of ₹36.79 crore in the September quarter this year. Nureca is reporting a loss in its profit from the last three quarters making it an unattractive destination for investors. With its consecutive loss in its net profit, the company has lost 74% of its market price in 2022.
The company is oriented towards health and wellness products and sells digital products for the early detection and management of lifestyle diseases. Nureca mainly sells its products directly to customers mainly through online channel partners such as e-commerce players, distributors, and retailers. It has received USFDA approval for more than fifteen products and holds 102 designed patents.
Dr Trust, Trumom, and Dr Physio are its leading brands selling products in the field of health and wellness. The company has been drastically under-performing compared to its peers like Polymed, TARSONS, and Centenial Surgical Suture ltd.