Rajnish Wellness rises on getting in-principle approval for setting up of business centres at 500 plus stations

Rajnish Wellness is currently trading at Rs. 30.00, up by 1.10 points or 3.81% from its previous closing of Rs. 28.90 on the BSE.

The scrip opened at Rs. 29.50 and has touched a high and low of Rs. 30.30 and Rs. 29.50 respectively. So far 1028406 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 30.30 on 21-Dec-2022 and a 52 week low of Rs. 1.30 on 04-Jan-2022.

Last one week high and low of the scrip stood at Rs. 30.30 and Rs. 25.35 respectively. The current market cap of the company is Rs. 1152.71 crore.

The promoters holding in the company stood at 16.05%, while Institutions and Non-Institutions held 0.51% and 83.44% respectively.

Rajnish Wellness has received an in-principle approval from Eastern Railway for setting up of business centres at 500 plus stations across Tier I, II and III cities. Eastern Railway has evaluated the submitted unsolicited proposal by company for ‘developing business centre at various stations of Eastern Railway through entrepreneurship development program’ and the competent Railway authority has accorded an in principle approval to the submitted unsolicited Proposal. Rajnish has already submitted detailed project report (DPR), containing the Earning Plan which includes technical and financial details.

As per the said unsolicited proposal, the Kolkata headquartered eastern railway will offer a pre defined space to Rajnish Wellness for carrying out various business activities including distribution of medicines under its signature Franchisee model on upto 500 railways stations of Eastern Railways. With implementation of this project, the revenues and profitability will increase multi fold.

Rajnish has an excellent marketing network with huge presence on various e-commerce and online platforms which gives it edge over other such players.

The company has presence in over 21 states with over 500 super stockists and 10000 distributors having presence in more than 1 lakh medical stores pan India.

Rajnish Wellness is a brand- manufacturing selling various ayurvedic medicinal products for personal sexual wellness of the consumers.

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