Stock Market: Despite the turmoil in the stock market on Monday, Nykaa (FSN E-Commerce Ventures) is experiencing a notable increase in its share prices. The company’s shares rose by over 5 percent today.
Nykaa reporting a strong performance
This uptick is attributed to a positive business update, with Nykaa reporting a strong performance in the September quarter. In their communication to the stock markets, the company indicated that net revenue growth is anticipated to improve, reflecting a favorable trend from the gross merchandise value to net revenue. This information was disclosed on Sunday.
Nykaa’s beauty segment has outperformed compared to the previous quarter
Notably, Nykaa’s beauty segment has outperformed compared to the previous quarter. Today, the shares opened at Rs 167.75 on the BSE and reached an intra-day high of Rs 176.50, marking a rise of more than 3 percent at one point. However, the shares later experienced a decline, and by 3 pm, they were trading with a gain of approximately 2 percent. Over the past year, the company’s share prices have decreased by more than 1 percent, and investors who purchased Nykaa shares three months ago have faced losses exceeding 10 percent.
🚨 Nykaa jumps 4% after its Q3 business update
Co. says
• Revenue growth higher than mid-twenties
• Beauty vertical growth has accelerated pic.twitter.com/q7e8XTiFlj— Stocktwits India 🇮🇳 (@StocktwitsIndia) January 6, 2025
The start of the new year has been favorable for FSN E-Commerce Ventures investors
Nevertheless, the start of the new year has been favorable for FSN E-Commerce Ventures investors, with share prices increasing by over 4 percent during this period. The company’s 52-week high stands at Rs 229.90, while the 52-week low is Rs 139.95 per share, and its market capitalization exceeds Rs 490,000 crore.
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