Market News
2 min read | Updated on March 15, 2024, 13:05 IST
SUMMARY
Mukka Proteins, which debuted at ₹40 on the NSE last week, was trading at ₹35.55 on Friday, March 15 as of 12:55 pm. The current market capitalisation of the company stands at ₹1,066.50 crore.
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Mukka Proteins has fallen 17.6 per cent on the BSE since its debut
Shares of Mukka Proteins have slumped more than 10% since its listing on the NSE. The Mangaluru-based company had debuted on the NSE at ₹40, a premium of 42% against the IPO price of ₹28 per equity share.
The stock was at ₹35.55, down 2.34%, on March 15. The current market capitalisation of the company stands at ₹1,066.50 crore.
Similarly, Mukka Proteins has fallen 20.2% on the BSE since its debut. The stock had listed at ₹44 per share last week and was trading at ₹35 on Friday at 12:55 pm.
According to the company's IPO prospectus, it witnessed a CAGR growth of 24% in its revenue from operations and 62% in its profit between FY21 and FY23. The Indian market for fish meal and fish oil is expected to grow at a CAGR of 5% to 9% between FY22 and FY26, which could potentially benefit the company.
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