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This Smallcap stock rises over 3% on new launch announcement: details
Source: Business Standard
Shares of Bharat Matrimony’s flagship brand Matrimony.com jumped up to 3.29 per cent to the day’s high of Rs 793 on the BSE during the intra-day deals on Monday. The uptick in the company’s stock price came on the back of the news that the company plans to launch a new line of business in the area of jobs called ‘ManyJobs’.
Matrimony.com, in the exchange filing dated Friday, September 20, further said, “The jobs market in India presents tremendous opportunity, specifically grey-collar jobs. While there are scale players operating in the white-collar jobs space, we see significant opportunity and whitespace in the grey-collar jobs market. ‘ManyJobs’ will focus exclusively on the grey-collar jobs market and specifically on frontline and entry-level jobs that would help in the differentiated offering and build expertise.”
The company is planning the initial launch for the Tamil Nadu market in both English and vernacular (Tamil).
Matrimony.com encompasses various matchmaking services, with its flagship brand Bharat Matrimony. Bharat Matrimony and its regional services cater to Indians across states and languages, offering 17 regional services such as Tamil Matrimony, Telugu Matrimony, Marathi Matrimony, Punjabi Matrimony, Kerala Matrimony, Kannada Matrimony, Bengali Matrimony, among others.
As of September 23, 2024, the company has a market capitalisation of Rs 1,714.06 crore on the BSE. The company is a constituent of the BSE SmallCap index.
Shares of Matrimony.com have yielded a return of 33.24 per cent year-to-date.
The counter has appreciated 2.23 per cent in the last one month, 22.79 per cent in the last three months, 50.84 per cent in the last six months, and 32.13 per cent in the last one year.
Matrimony.com shares have a 52-week range of Rs 848-499 on the BSE.
At around 2:50 pm on Monday, the small-cap company’s shares were quoted trading at Rs 769.90, up merely 0.06 per cent from its previous close of Rs 769.45 on the BSE.
Matrimony.com shares have traded in the range of Rs 793-768.05 on the BSE on Monday.
First Published: Sep 23 2024 | 3:26 PM IST
