FirstCry Shares Recover From 52-Week Low, Rally 14%

Shares of FirstCry surged as much as 14.7% to INR 419.00 during the intraday trading session on the BSE today (March 6), rebounding from its 52-week low of INR 356.55 on the BSE yesterday, despite the day’s broader market’s recovery.

Even at 11:55 AM, the stock remained strong, trading 13.61% higher at INR 415.00 on the BSE. At this point, the company’s market capitalisation stood at INR 21,546.14 Cr, with a trading volume of 20 lakh shares.

Earlier this month, FirstCry witnessed its second high-profile exit, as chief of staff Sanket , citing “personal reasons.” This followed the resignation of company secretary and compliance officer Neelam Jethani.

Despite today’s surge, the stock remains down over 36.40% on a YTD basis and has declined 40% in the past year at the current market price.

The 10.85% decline in stock in the last month aligns with the broader market weakening in the last few months. As for the Q3 financial result, the company narrowed its consolidated net loss 69.5% to INR 14.78 Cr from INR 48.41 Cr in the year-ago quarter on the back of healthy growth in its top line. Sequentially, net loss.

Revenue from operations surged 14.3% to INR 2,172.30 Cr during the quarter under review from INR 1,900.19 Cr in Q3 FY24. On a quarter-on-quarter basis, it went up 14% from INR 1,904.91 Cr.

(The story will be updated soon)

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