Nykaa shares tank 5% amid reports of block deal

Nykaa Share Price

Shares of Nykaa ended 3.45% lower at Rs 149.75 on BSE on January 12, 2023. The market cap of the firm fell to Rs 42,669.35 crore

Block deal details

According to reports, 1.4 crore shares changed hands on January 12, 2023. Buyers and sellers were not known

Nykaa shares' freefall

Shares of Nykaa are down over 55% from its adjusted 52-week high of Rs 348.70, hit on January 17, 2022

Nykaa share: Lock-in expiry

Nykaa stock has been under relentless selling pressure ever since the company's lock-in period expired for pre-IPO investors and the bonus issue announcement

JM Financial on Nykaa

JM Financial said the December quarter growth for Nykaa will be led by the festive demand, penetration in new channels and newer initiatives (eB2B superstore)

Nykaa: Q3 Expectations

JM Financial anticipates Nykaa to deliver 29 per cent YoY growth in GMV  and 26 per cent YoY growth in revenue led by strong growth in fashion and new initiatives

Analysts on Nykaa

"2023 and 2024 would be the years where the ambition towards profitability meets reality and the stock prices would react accordingly," said Sreeram Ramdas, Vice President, Green Portfolio

Disclaimer

The stock mentioned in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position

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