Nykaa shares buzz in weak market after many brokerages raise target price

Quick Summary:

The brokerage believes the company's continuous changes in strategies will drive growth in the fashion business and a potential surge in expenses for opening stores in the Gulf Cooperation Council (GCC) market.

In the third quarter ended December 31, 2024, Nykaa reported a sharp 51.3 per cent rise in its net profit to Rs 26.41 crore in Q3FY25, against Rs 17.45 crore in the year ago period.

Citi has iterated 'Sell' and has raised the target to Rs 160 per share from Rs 155.

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Category: BusinessFinance

Markets: India

Topics: Nykaa share price Nykaa share price today Fns ecommerce ventures results Q3 results Nykaa q3 results Brokerages on nykaa Q3 results today Nykaa Nykaa stock price today Nykaa price target Nykaa sock price

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Article Type: News Report

Published On: 2025-02-11 @ 10:11:46 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 449 words

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Copyright Owner: © Business Standard

News ID: 26067199

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