Physicswallah Share Price Jumps 5% After ₹550 Crore Block Deal; Stock Recovers 63% From March Low
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Physicswallah shares jump around 5% after 4.67 crore shares worth ₹550 crore change hands in a block deal, while the stock remains in recovery mode from its March low.
Shares of Physicswallah rose nearly 5% on Wednesday after 4.67 crore shares of the education technology company, worth about ₹550 crore, changed hands in a block deal.
The shares were traded at ₹117.72 apiece, about 3% below the stock's previous close of ₹121 on the NSE. Physicswallah shares later rose to ₹126.98, up nearly 5% from the previous close.
The buyers and sellers in the transaction were not immediately identified.
The deal comes after a sharp recovery in Physicswallah's shares from their record low. The stock has risen about 63% from ₹77.72, which it touched in March.
Physicswallah had made its stock market debut in November last year, listing at ₹145, a 33% premium to its IPO price. The shares climbed to a record ₹161.99 later that month before reversing course.
The stock fell more than 52% over the following four months, reaching its March low, before recovering in the months since.
Physicswallah Q1 results
The recovery has coincided with an improvement in the company's quarterly financial performance. Physicswallah reported a consolidated net loss of ₹88.3 crore for the quarter ended June, narrowing from ₹127 crore in the same period a year earlier.
Revenue from operations rose 24% year-on-year to ₹1,054 crore, from ₹847 crore. The company said the increase was driven mainly by growth in its online business.
Despite the improvement, the company remained loss-making in the first quarter of FY27.
Physicswallah share price
At ₹126.98, Wednesday's intraday high leaves the stock about 22% below its November record. The shares have nevertheless recovered significantly from the March low, with the stock's latest gains coming after the block transaction.
The identity of the parties to the ₹550 crore deal could not be ascertained immediately.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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