Nykaa shares surge 11% in five sessions; here’s why
The share price of Nykaa’s parent, FSN E-Commerce Ventures, gained 4.9% intraday to hit a high of ₹154.65 on the BSE, driven by strong Q2 numbers.
The share price of Nykaa’s parent, FSN E-Commerce Ventures, gained 4.9% intraday to hit a high of ₹154.65 on the BSE, driven by strong Q2 numbers.
Nykaa share price has fallen over 13% in three sessions as pre-IPO investors pressed the sell button soon after the company issued bonus shares.
The lock-in period for Nykaa share expires today, which means promoters and investors can liquidate their pre-IPO stocks owned by them.
On a sequential basis, Nykaa’s profit grew by 3.6%, while revenue rose 7%; stock jumped 25% in two sessions on earnings optimism
The counter has delivered a negative return of 35% in the calendar year 2022, while it has fallen 24% in the past six months.
Market capitalisation of Nykaa falls below ₹50,000 crore.
This would be the first bonus issue by Nykaa after the share of beauty and fashion e-retailer made its debut on the domestic bourses on November 10, 2021.