Pharmeasy’s share price in the unlisted market fell from its high of Rs. 135 to around Rs. 8 now. The e-pharmacy market is growing rapidly in India, and Pharmeasy has been one of its pioneers since 2015. Acquiring Medlife and Thyrocare made it more significant to deliver medicines to over 5 million customers at their doorsteps in over 19,000 pin codes across India. Pharmeasy’s sales continue from Rs. 2,335 to 6,705 crores from 2021 to 2023 and will rise more in the future. Hence, a fall of over 95% of the price of Pharmeasy shares makes it a multibagger stock. This is the question that many like you ask.
So, check out how Pharmaeasy’s share price today at all-time lows is making it a multi-bagger stock that can go beyond its all-time highs to yield unexpected returns because it still has the high potential to bounce back sooner rather than later.
Why did Pharmeasy share prices fall in the last few years?
Digitalization has revolutionized many sectors, and the most important is the health sector, including pharmacies. Medicines are essential and could save many precious lives if taken at the right time. E-pharmacy based on this novel concept has enabled the delivery of medicines to customers’ doorsteps to rise rapidly in India. Pharmeasy is one of the pioneers and also the largest e-pharmacy company in India to diversify from more than selling medicines to offering diagnostic and telehealth online services. From 2015, Pharmeasy expanded to over 1,200 cities to offer many medical services to millions of registered customers across India. Though its sales grew in the last few years, the failed IPO attempt in 2021 was one of the significant reasons for the fall in the Pharmeasy share price. Another reason is the huge competition from Reliance, which acquired Netmeds, Tata, which acquired 1mg, Apollo, Amazon Pharmacy, and others.
What is Pharmeasy share price today?
After hitting all-time highs again on August 1, 2024, Nifty, Sensex, and other indexes are seeing corrections because of global developments and the political coup in Bangladesh. Hence, today’s Pharmeasy share price was Rs. 8.4, an all-time low in the unlisted market. However, with more possibilities for Pharmeasy’s share price, NSE will raise its share price again today because of coming out with an IPO. It may even cross its all-time high of Rs. 135, which could multiply your investment at current levels many times.
So, the above facts will answer whether Pharmeasy’s share price today makes it a multi-bagger stock, with a definite yes for you to yield high returns in the future. Stockify provides access to high-potential unlisted shares, allowing investors to diversify their portfolios with pre-IPO companies. Gain early entry into promising businesses and capitalize on growth opportunities before they go public. Invest smartly on unlisted shares with Stockify.