Penny stock 2024: Rajnish Wellness share price trading below ₹5, surged over 5 per cent following company’s announcement to open Dava Discount outlets, on October 15, Tuesday.
The healthcare and wellness company announced plans to open 20 new Dava Discount outlets across key cities in India, fueling investor interest and boosting the stock price, as per an exchange filing.
Rajnish Wellness share price was trading in the green, up 4.12 per cent, at ₹3.03 on October 15, at 2:39 pm, on BSE. The company enjoys a market capitalisation of ₹232.85 crore, as per BSE.
The company expects this expansion to generate an annual revenue of ₹300 crore to ₹400 crore. Each new outlet is projected to bring in ₹15 crore to ₹20 crore annually, with profit margins estimated between 5 per cent and 9 per cent.
Rajnish Wellness has positioned itself as a key player in the affordable healthcare market. The new outlets will cater to growing demand for cost-effective medicines and healthcare products. Alongside the Dava Discount stores, the company will feature its in-house brand, PlayWin, which focuses on sexual wellness and personal care items.
The company’s leadership is confident in the potential impact of this expansion. The move is expected to strengthen Rajnish Wellness’ revenue base and profitability, enhancing its foothold in the rapidly growing healthcare sector.
Rajnish Wellness overview
Rajnish Wellness, established in 2015, operates across multiple segments, including sexual wellness and personal care. Its franchise model, combined with a strong e-commerce presence, allows the company to tap into the broader healthcare market, which is expected to reach $41.78 billion ( ₹53.13 lakh crore) by 2029, according to industry forecasts.
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