The gains come following two successive sessions of decline.
The reason for today’s surge was not known at the time of filing the story.
The multi-channel, multi-brand retailing platform for mothers, babies and kids’ products last week announced the expansion of its ‘Qwik’ delivery service across select pincodes in Bengaluru, Pune and Hyderabad. In a filing to the exchanges, the company said that parents in these cities can now access a wide range of baby and kids’ products.
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Firstcry share price performance
Shares of Firstcry are down 47% from their IPO price of Rs 465 per share. The stock hit its 52-week low of Rs 207.05 exactly a month back.
Its initial public offering was launched in August 2024 and the stock made its market debut on August 13, 2024, at Rs 651, implying a 40% listing premium. It went on to hit a lifetime high of Rs 720 on October 16, 2024, and since then it has been a downhill for investors.
Today’s surge has pushed the price above its 50-day simple moving average (SMA) of Rs 247.4, according to Trendlyne data. However, it is still trading below its 200-day SMA of Rs 326.1.
The company widened its net losses to Rs 28 crore in the December-ended quarter versus Rs 8 crore in the year-ago period. Total revenue in the quarter under review stood at Rs 2,480 crore compared to Rs 2,217 crore in the corresponding quarter of the previous financial year.
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