Shares of this e-commerce company surged around 15 percent in Wednesday’s trading session after acquiring a majority stake in Healthcare Startup. In one month, the shares have delivered more than 65 percent returns to its shareholders.
With a market capitalisation of Rs. 10.4 crores, the shares of Nihar Info Global Ltd started Wednesday’s trading session on a higher note at Rs. 10.01 compared to its previous close of Rs. 8.76. The shares hit a high of Rs. 10.03, gaining around 15 percent, also recorded as the company’s fresh 52-week high.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it was going to acquire a majority stake ie. 51 percent or more of the equity in Life 108 Healthcare Private Limited, a Healthcare Startup company, thereby making the company its subsidiary.
Moreover, Life 108 Healthcare Private Limited deals in various products related to healthcare and lifestyle. The company sells through various channels like Retail, Wholesale, B2B, and e-commerce marketplaces like Amazon and Flipkart and also sells its products through its own D2C Portal.
Life 108 Healthcare has partnered with various Healthcare Brands and is also in the process of launching its own Healthcare products, and the company has also been recognized under Startup India.
The healthcare startup has plans to enter into the manufacturing of health supplements like nutraceuticals under its own brand name “LIFE108” which are to be sold in various online and offline channels across India and the USA.
Furthermore, Nihar Info Global expects a potential turnover of Rs. 5 crores through the acquisition of a majority stake in Life 108 Healthcare Private Limited in the next 12 months. The move, approved by Nihar’s board, signals a venture into health supplement manufacturing under the ‘Life108’ brand.
Coming onto the company’s financial statement, The revenue decreased by 15 percent from Rs. 1.05 crore in the June quarter to Rs 89 lakhs. On the other hand, the net losses of the company narrowed down from Rs. 17 lakhs to Rs. 14 lakhs during the same timeframe.
Looking at the company’s important financial statement, the return on equity stood at 0.72 percent during FY22-23 and the return on capital employed was recorded at 2.14 percent during the same period. Further, the net profit margin for FY22-23 was recorded at 1.65 percent.
Headqauted in Secunderabad, Nihar Info Global was incorporated in 1995. The company is engaged in the business of software and e-commerce.
Written By Vaibhav Patil
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