The announcement by Rajnish Wellness to establish 20 additional Dava Discount stores on Tuesday, October 15, caused shares, which are now trading below ₹5, to rise by more than 5%.
The healthcare and wellness business aroused investor interest and raised the stock price when it revealed intentions to open 20 new Dava Discount locations in important Indian cities.
At 2:39 PM on October 15, at 2:39 PM on the BSE, the share price of Rajnish Wellness was up 4.12%, or ₹3.03. In intraday trade, the stock increased 5.5%, reaching a high of ₹3.07 for the day. The market capitalisation of the company is ₹232.85 crore.
The company projects that this expansion will bring in between ₹300 and ₹400 crore in revenue annually. An annual revenue of ₹15–20 crore is anticipated for each new location, with profit margins ranging from 5% to 9%.
Rajnish Wellness has established itself as a major participant in the market for reasonably priced healthcare. The additional stores will serve the expanding need for reasonably priced medications and medical supplies. The company’s house brand, PlayWin, which focuses on personal care and sexual wellness products, will also be available at these locations.
The management of the business is optimistic about this expansion’s possible effects. It is anticipated that this action will increase Rajnish Wellness’ profitability and revenue base while strengthening its position in the quickly expanding healthcare industry.
Rajnish Wellness: Company overview
The 2015-founded Rajnish Wellness operates in a number of markets, including personal care and sexual wellness. The company may access the larger healthcare market, which is predicted by industry predictions to reach $41.78 billion (₹53.13 lakh crore) by 2029, by utilising its franchise model in conjunction with a robust e-commerce presence.
