Rs 50,00,00,000 investment: Penny stock under Rs 5 in focus as company to open 33 new stores across India and bags contract from Indian Railways
The stock’s 52-week high is Rs 14.69 and its 52-week low is Rs 3.42.
Rajnish Wellness Limited (RWL), a prominent player in the Indian ayurvedic and ethical wellness market, has unveiled ambitious expansion plans to solidify its market position. The company will invest a substantial Rs 50 crore to open 33 new Dava Discount + Grocery Super Market stores across India, complementing its existing network of over 100 Dava Discount pharmacy franchises.
Rajnish Kumar Singh, Promoter of Rajnish Wellness, expressed the company's strategic vision behind this expansion. "These 33 new stores are a significant step towards our goal of making accessible and affordable healthcare solutions available to people nationwide. These stores will operate on a much larger scale than traditional supermarkets, making them an asset for our company in the future," he stated.
The Dava Discount + Grocery Super Market stores will offer a unique blend of medical and grocery services, providing customers with a one-stop shop for their daily needs. This expansion is expected to generate substantial job opportunities in the regions where the new stores are located.
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In a landmark development, Rajnish Wellness has also secured a historic contract with the Indian Railways to establish 270 Dava Discount stores across West Bengal. This Eastern Railway contract has been categorized into three tiers based on store size, location, and expected footfall: platinum, gold and silver. This categorization ensures that the Dava Discount stores are optimally sized and positioned to cater to the diverse needs of different customer segments and railway stations. These stores will serve both railway passengers and personnel, offering convenient access to essential medicines and healthcare products.
With this significant expansion, Rajnish Wellness is poised to strengthen its presence in the Indian market and continue its commitment to providing affordable and accessible healthcare solutions to people across the country.
Today, shares of Rajnish Wellness Limited plunged 3.36 per cent to Rs 3.45 per share from its previous closing of Rs 3.57 with an intraday high of Rs 3.63 and an intraday low of Rs 3.42. The stock’s 52-week high is Rs 14.69 and its 52-week low is Rs 3.42. The company has a market cap of Rs 265 crore.
Disclaimer: The article is for informational purposes only and not investment advice.
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