Add-shop ERetail rises on expanding presence in 3 states
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Add-Shop ERetail is currently trading at Rs. 42.90, up by 1.24 points or 2.98% from its previous closing of Rs. 41.66 on the BSE.
The scrip opened at Rs. 42.29 and has touched a high and low of Rs. 43.40 and Rs. 42.00 respectively. So far 50019 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 105.55 on 08-Apr-2022 and a 52 week low of Rs. 38.25 on 08-Feb-2023.
Last one week high and low of the scrip stood at Rs. 43.96 and Rs. 39.50 respectively. The current market cap of the company is Rs. 121.32 crore.
The promoters holding in the company stood at 36.03%, while Non-Institutions held 63.97% stake in the company.
Add-shop E-Retail has opened 10 new franchises in Tamilnadu, 10 new franchises in West Bengal and 7 new franchises in Bihar during February month. This will boost the company’s retail business. Also, the company has launched Instant Green Tea with Tulsi Extract products in last month.
Add-shop would be leveraging on its robust distribution network spread across the country for its ayurvedic products and agriculture products. The company is having vast distribution network of more than 2000 franchises spread across India. In addition, the company is having wide customer base, which offers substantial base for marketing its products to them. Such distribution network would be major growth catalyst for the company.
Add-Shop E-Retail is currently engaged in the business of marketing and distribution of products in the categories of ayurvedic products, food supplement products, agricultural products, animal feed supplement products and personal care products under the brand name ‘Add-Shop Promotions’.
