Nykaa surges 19% on heavy volumes; stock at highest level since Oct 2022

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Nykaa surges 19% on heavy volumes; stock at highest level since Oct 2022 - Business Standard

Quick Summary:

The average trading volumes on the counter jumped over 10-fold with a combined 101.76 million shares or 3.6% of total equity of Nykaa changing hands on the NSE and BSE till 02:44 pm.

At 02:44 pm; Nykaa was trading 10 per cent higher at Rs 211.75, as compared to a flat trend in the BSE Sensex.

Break-even in the Fashion segment as per guidance and better growth offtake in BPC amidst threat of quick commerce players will drive share price performance,” the brokerage firm said in result update.