Kaya Ltd. Soars 50% in 11 Trading Sessions

The Indian equity market reached a fresh record high on Tuesday, with the Bank Nifty rallying over 400 points. The broader markets displayed notable outperformance, with the Nifty Midcap 100 and Smallcap 100 rising by 0.35% and 1.08%, respectively. Amid this strong performance, one stock that has suddenly come into the spotlight is Kaya Ltd. The stock has surged by 50% in the last 11 trading sessions.

Unprecedented Trading Volume

Interestingly, Kaya Ltd. recorded its highest-ever volume in June. So far, the total trade volume for June stands at 90 lakh shares, marking a significant milestone in the company’s trading history.

Remarkable RSI Surge

The rapid rise in Kaya’s stock price has also impacted its Relative Strength Index (RSI). The 14-period daily RSI has soared from an oversold region to its highest level in the past nine months, underscoring the sharpness of the stock’s ascent.

Recent Developments

In a recent development, Kaya Ltd. announced that its wholly-owned material subsidiary, KME Holdings Pte. Ltd., entered into a definitive agreement to sell its entire shareholding in Kaya Middle East FZE to Humania GCC Holding Limited. The company confirmed the completion of this transaction on June 10, 2024, effective from June 7, 2024. As a result, Kaya Middle East FZE and its subsidiaries have formally ceased to be part of the Kaya Group. Notably, Mr. Rajiv Suri will continue his services with Kaya Limited.

Strong Financial Performance in Q4FY24

Kaya Ltd. reported impressive financial results for Q4FY24, particularly in its Indian clinics. Key highlights include:

• Net Revenue Growth: Indian clinics recorded a net revenue growth of 24% year-on-year (YoY).
• Product Business Growth: The product business grew by 25% YoY.
• Service Revenue Growth: Service revenue increased by 24% YoY.
• Body Contouring Segment: This segment continued to show robust growth of 77% YoY.
• Acne & Scars Category: This category grew by 27%.
• Hair Care Category Relaunch: With advanced diagnostic tools and a revamped customer journey, the hair care category witnessed an 18% revenue growth YoY.
• Customer Growth: The customer count in India grew by 14% YoY in Q4FY24.

Impressive Stock Performance in 2024

In 2024, Kaya Ltd.’s stock delivered a return of about 30%, reflecting strong investor confidence and robust financial performance.

Kaya Ltd.’s recent performance highlights its potential for sustained growth and its ability to capitalize on market opportunities, making it a stock to watch in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.