Nykaa shares jump 7% to record high; profit booking or further gains ahead?

Shares of FSN E-Commerce Ventures Ltd, online fashion retailer Nykaa's parent company, surged 7.13 per cent to hit an all-time high of Rs 256.95. The stock eventually settled 6.54 per cent higher at Rs 255.50. At this price, it has rallied 49.15 per cent in the last six months.

The counter logged heavy trading volume along with the price action today as around 20.28 lakh shares changed hands on BSE. The figure was way more than the two-week average volume of 1.11 lakh shares. Turnover on the counter came at Rs 50.73 crore, commanding a market capitalisation (m-cap) of Rs 73,119.99 crore.

In a recent exchange filing, Nykaa said it expects its consolidated Gross Merchandise Value (GMV) to grow to the 'thirties' range in the July–August quarter of FY26 (Q2 FY26), compared to the 'mid-twenties' recorded over the past few quarters. "This strong performance is driven by renewed growth in the Fashion vertical and healthy momentum in the Beauty vertical," the company stated.

Nykaa also noted that it anticipates consolidated net revenue growth to be in the 'mid-twenties' during the quarter, supported by an early start to the festive season this year. "The recent GST reforms announced by the Government are a welcome move to stimulate demand. These reforms are expected to boost disposable income and drive long-term growth across several consumer and discretionary categories," it added.

From a technical perspective, Nykaa shares exhibit strong short-term momentum, though an analyst cautioned that the stock appears overbought. Key support is placed at Rs 240–245, while resistance is seen around Rs 259–275.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Nykaa has experienced a notable increase in both price and trading volumes. This advancement suggests a strong technical configuration, indicating significant short-term momentum. Regarding support levels, it is likely that the range of Rs 245 to Rs 240 will provide a buffer against any potential declines, while substantial support is projected around Rs 230 level. On the upside, an intermediate resistance is anticipated in the vicinity of Rs 270-275."

Sebi-registered analyst AR Ramachandran noted, "Nykaa's stock is bullish but also overbought on daily charts with the next resistance at Rs 259. Investors should be booking profits as a daily close below the support of Rs 244 could trigger a drop towards Rs 229 in the near term."

As of June 2025, promoters held a 52.14 per cent stake in the beauty and fashion retailer.