Baazar Style Retail shares zoom nearly 22% in four sessions; what's fuelling the rally?

Shares of Baazar Style Retail Ltd extended their winning run for the fourth straight session on Wednesday, rising as much as 5 per cent to hit a high of Rs 423.80 on BSE. At this level, the stock has gained 21.52 per cent over four trading sessions and is now close to its record high of Rs 426.85, touched on May 13, 2025.

The latest rally comes after Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Ltd, acquired around a 6 per cent stake in Baazar Style Retail.

According to exchange data released on Tuesday, Halwasiya acquired 45 lakh shares, representing a 5.91 per cent stake in Baazar Style Retail. On the selling side, promoters Shreyans Surana and Sidharth Surana offloaded 21 lakh and 9 lakh shares, respectively, while Bhagwan Prasad sold 15 lakh shares and Rajendra Kumar Gupta HUF offloaded 1 lakh shares.

Separately, BSE data showed bulk deals involving Mansi Share and Stock Broking Pvt Ltd on Tuesday, August 18. The entity sold 43 shares at Rs 403.21 apiece and purchased 4,15,002 shares at Rs 403.11 apiece.

Halwasiya's investment has drawn attention given his role at Cupid, where he has also been increasing his stake. His personal holding in Cupid has risen to 33.45 per cent following recent share purchases.

Baazar Style Retail, which operates the Style Baazar chain and has a presence across eastern India, recently informed the exchanges that it opened a new store at PS Road in Bolpur, West Bengal.

At the same time, the company closed its Style Baazar store at Raiganj. Following these changes, its total store network stood at 276 stores.

Baazar Style Retail-Cupid connection

The latest stake purchase comes against the backdrop of an earlier strategic arrangement between Baazar Style Retail and Cupid.

In January 2026, Baazar Style Retail said its board had approved the issuance of 1.01 crore fully convertible equity warrants to Cupid at Rs 328.25 per warrant, for an aggregate of Rs 331.53 crore.

Upon conversion of the warrants, Cupid was to acquire an 11.92 per cent stake in Baazar Style Retail, with the partnership aimed at expanding its FMCG distribution through Baazar Style Retail's retail network.