Hosan Consumer Share Price: Shares of Honasa Consumer Limited, the parent company of Mamaearth, plunged up to 20% to trade at Rs. 295.80 in early trade on Monday i.e. November 18. This sharp decline in Hosana Consumer share price comes after the company reported a loss in the July-September quarter first time in the last five quarters. The company's shares fell below Rs 300 to hit a new 52-week low.

Hosana Consumer Reports Rs 19 Cr Loss

Honasa Consumer Limited incurred a loss of Rs 19 crores in the September quarter of the current financial year. Last year in this same quarter, the company had a net profit of Rs 29 crores. In the September quarter of the current financial year, the company's revenue also fell by 7% to Rs 462 crores, compared to Rs 496 crores, which was the company's revenue in the same quarter last year. The total expenditure has also increased by 9% year-on-year.

Honasa Consumer Limited's IPO opened on October 31, 2023, and closed on November 2. The company's shares were listed on the BSE on November 7, 2023, at Rs. 324, which was IPO price.

Emkay downgrades rating

Brokerage house Emkay Global has downgraded the rating of Honasa Consumer's shares> The brokerage firm has put Hosan Consumer in a 'sell' rating, reducing the target price to Rs 300 Per share. Earlier, the brokerage firm had given a target price of Rs 600 and the shares were in 'Buy' ratings.

However, brokerage house Jefferies has maintained a buy rating on Honasa Consumer shares, while reducing the target price of its shares to Rs 425,  according to a report by Moneycontrol.

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