Kaya stock freezes at 10% upper circuit on Marico marketing collaboration

Kaya stock update: In the past one month, the market price of Kaya has zoomed 73 per cent and the stock had hit a 52-week high of Rs 515.85 on June 24.

Shares of Kaya, a renowned dermatological solutions provider, were locked at the 10 per cent upper circuit at Rs 501.45 on the BSE on Thursday as of 10:11 am on news of collaboration with Marico.

A combined nearly 50,000 shares of Kaya changed hands and there were pending buy orders for 310,000 shares on the NSE and BSE. In the past one month, the market price of Kaya has zoomed 73 per cent. It had hit a 52-week high of Rs 515.85 on June 24. Meanwhile, shares of Marico were trading flat at Rs 607.85, after hitting a high of Rs 614.95 in intra-day trade. In comparison, the BSE Sensex was up 0.4 per cent at 80,275.

 

Marico, one of India’s leading fast moving goods company FMCG companies, and Kaya, announced that they will collaborate, with Marico exclusively handling sales and marketing of Kaya’s range of 75+ efficacious science-based personal care products outside of Kaya’s clinics.

This collaboration will leverage the established expertise and capabilities of both companies and unlock the untapped growth potential of the brand by enhancing its presence and accessibility across markets and channels, Kaya said in an exchange filing.

Kaya offers an extensive portfolio of dermatologist-recommended products, ranging from daily essentials to specialized solutions for acne, brightening, sun care, anti-ageing and hair care. Kaya’s products are currently available across some of the leading E-Commerce marketplaces and 70+ Kaya Skin Clinc across India.

This collaboration underscores the commitment of both Marico and Kaya to deliver high quality innovative products to consumers, ensuring highest standards of efficacy and customer satisfaction, the company said.

Up to March 31, 2013, Kaya Business was conducted as subsidiaries of Marico. Following the demerger of Kaya business from Marico, the Kaya Business has been conducted by Kaya and its subsidiaries. The Kaya Business principally comprises the provision of skin care services and products under the brand name of Kaya in India and Middle East.