Shares of Kaya, a prominent provider of dermatological solutions, reached a 5-year high of ₹ 604.25 per share today, hitting the 10% upper circuit limit for the third consecutive trading day. This recent surge has propelled the stock to an 80% gain year-to-date, marking its largest annual increase since its listing in CY15.
The sharp rise in shares commenced following Kaya's collaboration with consumer goods maker Marico, which involves exclusive sales and marketing responsibilities for Kaya's portfolio of over 75 science-based personal care products outside of its clinics. Also Read : Multibagger Stock: TARC rallied 545% in 3 years, over 250% in last 12 months; should you buy? The collaboration will leverage the established expertise and capabilities of both companies and unlock the untapped growth potential of the brand by enhancing its presence and accessibility across markets and channels, the company said in its exchange filing dated July 03. Kaya offers an extensive portfolio of dermatologist-recommended products, ranging from daily essentials to specialised solutions for acne, brightening, sun care, anti-aging, and hair care.
Kaya’s products are currently available across some of the leading e-commerce marketplaces and 70+ Kaya skin clinics across India. The Indian customer mindset towards wellness and aesthetics has shifted post COVID, with estimates indicating that 33% of millennials now spend over ₹ 4,000 monthly on wellness. The wellness and beauty market is .