Meanwhile, the BSE Sensex was down 228.98 points, or 0.79%, to 28,816.30.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 4,543 shares in the past one quarter. The stock hit a high of Rs 777.95 and a low of Rs 692 so far during the day. The stock hit a 52-week high of Rs 1,287.50 on 21 December 2015. The stock hit a 52-week low of Rs 688.20 on 12 August 2016. The stock had underperformed the market over the past 30 days till 8 September 2016, falling 5.03% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.98% as against Sensex's 9.05% rise.

The small-cap company has equity capital of Rs 12.95 crore. Face value per share is Rs 10.

Kaya said that its foreign subsidiary, Kaya Middle East, DMCC, has entered into an agreement dated 8 September 2016 for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. However, the agreement will become effective on fulfilling of certain conditions precedent and obtaining the requisite statutory approvals, which will take approximately 4 months.

The above said entities carry out business of skincare, body & hair services and reported revenue of 11.17 million Dirham, as per the audited financial statements for the year ended 31 December 2015.

Kaya said that this acquisition will further strengthen its network of clinics in the United Arab Emirates (UAE) region and add new set of customers to its existing base in the region. With its special expertise in body contouring, it would help Kaya in leveraging across the region. With this acquisition, the total network of the clinics in the Middle East region would increase to 23.

On a consolidated basis, Kaya reported net loss of Rs 0.31 crore in Q1 June 2016 compared with net profit of Rs 1.42 crore in Q1 June 2015. Net sales rose 16.39% to Rs 97.91 crore in Q1 June 2016 over in Q1 June 2015.

Kaya, Marico's wholly-owned subsidiary, delivers skin care solutions in India and overseas, through its range of Kaya Skin Cinics.