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Nureca shares rebound 25% from day's low amid heavy volumes, up 17%

Nureca shares rebound 25% from day's low amid heavy volumes, up 17%

Nureca's shares made a quick rebound to Rs 393.15, surging 25 per cent from its lowest level, erasing entire losses.

Nureca shares rebound 25% from day's low amid heavy volumes, up 17% Nureca shares rebound 25% from day's low amid heavy volumes, up 17%

Nureca's shares staged a smart recovery on Friday and jumped as much as 25 per cent from its day's low price amid the heavy trading volumes. However, the stock has been on a secular fall recently, consistently hitting 52-week low on a daily basis.

Nureca's shares plunged 6 per cent to Rs 315.20 on Friday morning, hitting its new record low. However, the stock made a quick rebound to Rs 393.15, surging 25 per cent from its lowest level, erasing entire losses. The counter had settled at Rs 334.85 on Thursday.

According the data from BSE, more than 2.75 lakh shares of Nureca worth Rs 10 crore exchanges hands as of 1.30 pm on Friday, which is significantly higher than its two-week average of only 0.28 lakh shares being traded.  On the other hand, over 31 lakh shares of Nureca worth Rs 115 crore were traded on National Stock Exchange (NSE).

Nureca's shares have lost more than 83 per cent of its value from its 52-week high of Rs 1,863 in January 2022. The stock is trading 85 per cent below its all-time high of Rs 1,863, hit in October 2021.

Nureca was listed in February 2021 as the company raised Rs 100 crore via its initial stake sale by selling its shares in the range of Rs 396-400 apiece. The stock delivered multibagger returns in the initial few months, thanks to soaring demand during the Covid-19 pandemic. Interestingly, the stock has breached its issue price of Rs 400.

Incorporated in 2016, Nureca is a healthcare and wellness products distributor. The company aims to offer the best quality, durable, and innovative tools to customers to monitor chronic diseases to improve their lifestyle. It offers its products under 'Dr. Trust,' 'Trumom' and 'Dr. Physio' brands.

The firm has a well-diversified product range of over 150 SKUs including Chronic Device Products, Orthopedic products, Mother and Child products, Nutrition Supplements, and Lifestyle products to meet the Indian healthcare market requirements.
 

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Published on: Jan 20, 2023, 1:59 PM IST
Posted by: Tarab Zaidi, Jan 20, 2023, 1:56 PM IST