Nykaa’s share value rises greater than 4% at this time, beneficial properties greater than 19% within the final two weeks

The shares of the beauty and fashion e-commerce platform jumped almost 11% to ₹170 apiece during Friday’s intraday session, hitting an 11-month high. The rise in Nykaa shares could be seen after the company’s BPC segment experienced sluggish growth, but investor sentiment turned favorable for the stock due to a revival in the fashion business.

According to reports, the stock has gained more than 19% in the last two weeks since it released its results for the September quarter.

In the second quarter of fiscal year 2024, Nykaa reported 50% year-over-year growth in net profit, reaching ₹7.8 crores. Moreover, the total gross merchandise value (GMV) witnessed 25% YoY growth, reaching ₹2,943.5 crores.

In the quarter, the company witnessed a 25% year-on-year increase in its total gross merchandise value (GMV), reaching ₹2,943.5 crores. In particular, the fashion vertical has outpaced the growth of the BPC segment.

So far in 2023, the stock has experienced growth of about 12%, slightly outperforming the Nifty 50 benchmark, which has seen an increase of about 8%.

On the other hand, Nykaa’s parent company FSN E-Commerce Ventures Ltd, rose more than 8% to reach its 11-month high on Friday.

Friday’s rally not only pushed the stock into positive territory for 2023 recovering all previous losses, but also showed its resilience. However, the stock continued to lag behind its adjusted IPO price of ₹187. With gains in three of the last four trading sessions, the stock is up 11% over the past week. Impressively, it has registered gains in 10 of the 13 trading sessions in November so far.

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Updated: 20 Nov 2023, 17:39 IST