Honasa Consumer stock hits 10% lower limit; down 36% in 3 days post Q2 show

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Honasa Consumer stock hits 10% lower limit; down 36% in 3 days post Q2 show - Business Standard

Quick Summary:

The stock hit a new low even as the company denied allegations claimed by AICPDF around the company's practices with its distributors and distribution transition.

JM Financial Institutional Securities in the Q2 result update said that they like the management’s intent in terms of identifying execution gaps; however, given the tough environment & various pilots/ transitions underway; the ramp up in offline channel will be gradual & take few quarters before reverting to normalised growths, it added.

Shares of Honasa Consumer, the parent of skincare Mamaearth, hit a new low at Rs 237.40, and were locked in the 10 per cent lower circuit on the BSE in Thursday’s intra-day trade amid heavy volumes.