Nykaa Share Price down 72 percent from record high lost 80000 crore in 14 month expert bullish – Business News India

Nykaa Share Price down 72 percent from record high lost 80000 crore in 14 month expert bullish – Business News India

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Nykaa Share Price: In the year 2021, the IPO (Nykaa share) of fashion and beauty e-commerce company Nykaa came. Nykaa created a tremendous atmosphere in the stock market and continuously made bumper profits to the investors since the listing. However, this rally in the shares did not last long and then the phase of decline started. Last year in 2022, this share broke down to about 60%.
Nykaa shares had hit a new 52-week low of Rs 120.75 on Monday. On November 26, 2021, this share reached a lifetime high of Rs 429. At that time, its market cap had grown to Rs 115,148 crore. On Monday, the share price was around Rs 35,000 crore. That is, in 14 months itself, investors have incurred a loss of about Rs 80,000 crore.

72% broken share from all time high
Shares of Nykaa are down about 72% year to date. The stock has fallen from its 52-week high of Rs 429 to currently trade at Rs 123. In just 14 months, 80,000 crore rupees of investors were drowned. After the continuous decline in the shares of New Age Tech Company, investors have been confused, what should be done next. This is because while on one hand the stock is consistently underperforming on the exchanges, on the other hand foreign investors (FIIs) and mutual funds are betting big on it, brokerages are looking bullish on this stock.

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Increased confidence of FII and mutual funds
FIIs sequentially increased their holding from 6.5% to 11% in the December quarter. While mutual funds have also doubled their investment and acquired 4% stake in FSN E-Commerce Ventures. According to Prime Database, in the last month alone, mutual funds bought Nykaa shares worth over Rs 400 crore.

Increased target price of brokerage
Domestic brokerage ICICI Securities has assigned a hold rating with an enhanced target price of Rs 175. According to analysts, the revenue CAGR requirement over the next 20 years at the highest stock price was 23%. After correction of 70% from peak, BPC (Beauty & Personal Care) business in SoTP now has 77% of current price. Whereas, the reverse DCF shows 15% revenue CAGR. 20% EBITDA margin (on TV) is required.” Analysts believe Nykaa has the largest beauty and personal care (BPC) business in the growth market. It will benefit from its profitability metrics and entry into offline from online business.

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How was the September quarter?
The Falguni Nair-led company reported a 344% year-on-year (YoY) jump in net profit at Rs 5.2 crore in the September quarter. While its quarterly revenue from operations grew 39% YoY to Rs 1,230.8 crore.


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