FirstCry Parent Shares Decline 5%, Stock Down 10% YTD

The stock recouped some losses during the intraday trade and was trading 3.89% lower at INR 614.45 on the BSE at 11:14 AM

On a year-to-date basis, the stock has tanked almost 10%, underperforming benchmark equity index BSE Sensex, which has climbed over 9% during the period

At the time of writing, the market capitalisation of FirstCry’s parent stood at INR 31,711.77 Cr  (around $37.27 Bn)

Shares of Brainbees Solutions, the parent company of kids-focussed omnichannel retailer FirstCry, nosedived almost 5% during the early trading hours today (December 23) to  INR 608.05 apiece on BSE.

However, the stock recouped some losses during the intraday trade and was trading 3.89% lower at INR 614.45 on the BSE at 11:14 AM.

On a year-to-date basis, the stock has tanked almost 10%, underperforming benchmark equity index BSE Sensex, which has climbed over 9% during the period.

At the time of writing, the market capitalisation of FirstCry’s parent stood at INR 31,711.77 Cr  (around $37.27 Bn).

The  drop in the stock price comes two days after brokerage firm JM Financial initiated coverage on  FirstCry with a ‘buy’ rating setting a price target at INR 692. 

It is pertinent to mention that FirstCry made its Dalal Street debut in August, with its shares listing at a 34% premium on BSE and 40% premium on NSE. 

(The story will be updated soon)